Gavin Friend
speaker
7,937 appearances
60 recordings
1 series
first heard Sep 2024
last heard 2 Sep
Gavin Friend’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 29 in all, peaking in Oct 2025 with 5.
Appearances
We should remember um all acknowledge that the initial announcement was that the intention is to improve market functioning.
And on Thursday, Bessent noted that liquidity, particularly at a 30-year tenor, is very poor.
So I think Bessant himself
said Thursday yields don't reflect the underlying the underlying fundamentals and Mark Marcus rightly don't like the idea though that the or the suggestion that the Treasury will try and manipulate yields
yields can't clear.
No.
First, the but the the the increased size of the buybacks from two to four billion.
So that's like, you know, bigger picture, sixteen billion a quarter up to thirty-two billion a quarter.
They don't start until the uh the ninth of September.
But it's you know, the market sees it as a sticking plaster in the size of the bond market or in the size of QE and that kind of thing.
This is this is tiny, right?
So, you know, you'd have you'd have to do more than that.
And, you know, um on the day, Besson did say actually, when he's speaking to C.
C N B C that they could be even bigger than that.
Oh dear.
A a policy that markets don't like in the first place, don't think it's going to be suc successful.
You know, the very idea that you want to try and manipulate, that you can't clear yields, that won't go down well.
So a it was actually, I suppose, comforting in inverted commerce to hear the Treasury Secretary then say that he and the budget director were going to be looking at fiscal consolidation.
If you want to pull back longer term yields, that's what you need to be doing.
But it's not consistent with, you know, the US government's uh uh one big beautiful bill, uh, you know, within which there was an extension of things like um uh lower taxes for the for the better off.
Showing 141–160 of 7,937 · page 8 of 397
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