Bessent Says Wouldn’t Lift Long-Term Bond Sales at Today’s Rates

Treasury Secretary Scott Bessent indicated it wouldn’t make sense for the government to ramp up sales of longer-term securities given where yields are today, though he held out hope that interest rates across maturities will be falling as inflation slows.

“Why would we do that?” Bessent said in a Bloomberg Television interview Monday when asked about increasing the share of longer-term securities in Treasury debt issuance. “The time to have done that would have been in 2021, 2022.”

Bessent last year repeatedly criticized then-Treasury Secretary Janet Yellen for relying more on short-term Treasuries in issuance, saying the effort was ...