George Steer
speaker
109 appearances
4 recordings
1 series
first heard May 2026
last heard 21 Aug
George Steer’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 — 4 in all, peaking in May 2026 with 3.
Appearances
Hello.
I think investors are of the opinion that
even though Bessant has announced much bigger purchases of long term US government debt, that those measures on their own will not be enough to kind of prevent yields in the US rising as they have been for the last few months.
But I think most investors hope that he'll do more.
Uh whether he kind of bows to that pressure, we'll we'll see.
Bessant doesn't have that much power to do much about this, it turns out, because the forces driving US long term borrowing costs higher are basically out of its control.
We've got worries about inflation.
There are concerns about the US government debt, which on Wednesday
hit forty trillion dollars.
Rates are rising or expected to rise in Japan, the yen is weakening.
All of these kind of factors mean that Bessent on his own
doesn't have that many kind of strings to pull to bring long term borrowing costs down.
I think there's a there's a concern among investors that now that Bessant has signaled his concern about rising yields and promise to double the amount of long-term treasuries that his department will buy, investors will want more.
They'll want the buybacks to be even higher.
And on Thursday, Bessent said exactly that, that the the doubling of the buybacks could be even more.
So I think there's a there's a worry that the market might get exactly what it wants, which is just more US government intervention in markets full stop.
The idea is that market should be left alone, right?
That, you know, the market is the best measure of where prices should be.
That's that's the kind of concern around
government and treasury departments around the world.
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