Bessent confirms Treasury auctions continue amid buyback increase

Treasury Secretary Scott Bessent said on Monday that the regularly scheduled Treasury auctions of U.S. debt are expected to continue per usual after his agency announced an increase in the size of buybacks of longer-dated securities. Bessent spoke Monday at a press conference to discuss a new plan for the "economic asphyxiation" of the Iranian regime through the implementation of secondary sanctions on Iran's trading partners. During the press conference, the Treasury secretary was asked about whether the agency may reduce the size of auctions for longer-term debt going forward or if there are other actions from the department's toolkit that may be used to help lower yields. "We are going to continue with our regular program of auctions. So you will be hearing from us again at the beginning of next quarter," Bessent said.