Bessent dissent
Moves by the Treasury secretary are being interpreted as an effort to control rising yields
Economic news
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Bitcoin and gold surge as Bessent’s intervention in bond market hits dollar
World’s biggest cryptocurrency on track for best week in more than three years
The bond scare and the balance of power
After the dreamworld of the 2010s, the link between power and fiscal capacity is back
UK retail investors snap up gilts in wake of bond sell-off
Surge in yields prompts buying of tax-efficient low-coupon securities
FirstFT: Scott Bessent’s bond buybacks lift gold and bitcoin
Also in this newsletter: El Niño forces Panama Canal to cut traffic and Samsung outlines plans to return $80bn to shareholders
Bitcoin and gold surge as Bessent’s bond market intervention weighs on dollar
World’s biggest cryptocurrency on track for best week in more than three years