Jumpy bond markets make it clear: Trump risks driving US into debt crisis | Heather Stewart

<p>Treasury secretary Scott Bessent’s attempt to calm bond markets is a sign of weakness not strength</p><p>“Look, there’s nothing magic about that $40tn number,” the US Treasury secretary, Scott Bessent, told CNBC insouciantly last week, as the country’s debt mountain surpassed another bleak record.</p><p>Yet Bessent’s decision to intervene in government bond markets in an effort to combat soaring yields belied his studied calm in TV interviews – and reignited fears the US may be on the road to a debt crisis.</p> <a href="https://www.theguardian.com/business/2026/aug/23/jumpy-bond-markets-make-it-clear-trump-risks-driving-us-into-debt-crisis">Continue reading...</a>