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Bessent’s Bond Maneuvers Giving Global Debasement Trade New Life

Bloomberg
Bloomberg
Aug 22, 2026 · 1:44 AM
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Bessent’s Bond Maneuvers Giving Global Debasement Trade New Life
Scott Bessent’s bid to tame US borrowing costs knocked down long-term yields for barely a day. The more lasting market signal: the dollar weakened while gold and Bitcoin rallied, reinforcing a debasement trade fueled by swelling US deficits and concerns over the direction of US economic policy.
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