US Debt Vexes Griffin and Gopinath After ‘Truss-Lite’ Japan Mess

In the wake of Japan’s bond chaos this week, Davos attendees are wondering how long it will take before vigilantes target what Treasury Secretary Scott Bessent calls the “mountain” of US debt.

A market rebound in Tokyo after Tuesday’s remarkable rout allowed participants at the World Economic Forum to assess the damage and study lessons from turmoil sparked by concerns of a fiscal giveaway as a snap election approaches on Feb. 8. Spillover from the gyrations prompted Bessent to talk with Japanese Finance Minister Satsuki Katayama, who then called for calm.

The episode appears to be “a Liz Truss ...