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Bessent Has No Easy Fix for What's Really Driving Bond Yields Up Bloomberg.comTreasury Is Buying Its Own Bonds. Where Is The Money Coming From? ForbesAn alarmed bond market gets the Trump administration to act again AP NewsScott Bessent is ‘playing with fire' as the Treasury's debt buyback risks putting the dollar in a devaluation spiral like the yen, economist warns Yahoo Finance
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Treasury's recent moves in the bond and currency markets add up to 'soft-form financial repression' FortuneThe national debt just hit $40 trillion. But just how big is $40 trillion? CNNOpinion | An Ancient Sumerian Solution to Our $40 Trillion Deficit The New York TimesAfter decades of free spending, Washington is facing some unpalatable choices The Washington PostDebt and Tax Cuts Paul Krugman | Substack
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Cryptocurrencies and precious metals shot higher, while the U.S. dollar weakened, after the Treasury Department said it planned to double its bond buybacks.
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Following efforts by the US and others to address cryptocurrency standards, UK officials this week said they want Britain to lead the world and create their own government-backed digital token for international trade.
"We want this country to be a global hub — the very best place in the world to start and scale crypto-companies," said John Glen, MP and UK Economic Secretary to the Treasury.
Glen's comments came during a keynote speech at the Innovate Finance Global Summit during Fintech Week 2022. He also asserted the UK is the leading European financial technology (Fintech) hub, "second only to the US worldwide."
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