Treasury doubles long-bond buybacks as Druckenmiller warns against rate management

RELATEDDruckenmiller says Treasury is treating the symptom

Stanley Druckenmiller is a billionaire investor who worked alongside Bessent at Soros Fund Management. He called the expansion “price management” and a “mistake.” His case is that holding down yields could hurt the market’s trust in Treasury and delay the harder work of cutting the primary deficit. Treasury says the program helps trading and does not target interest rates.