U.S. Treasury Secretary Asked About Further Intervention in Treasury Market: "The Regular Program Will Continue"

[Financial News] Scott Bessent, the U.S. Treasury Secretary who announced market intervention this month to support U.S. Treasury prices, said the government will continue issuing bonds as usual despite the possibility of reducing issuance. He also declined to comment on whether the scale of Treasury buybacks could be further expanded.
According to Fox News, Bessent said at a press conference on the 24th (local time) after announcing Iran sanctions that the Treasury Department would continue its regular Treasury auction program when asked whether it could reduce the size of long-term bond auctions.
He explained that decisions on auction sizes are made as scheduled in the next quarterly borrowing plan.
In a statement released on the 19th, the U.S. Department of the Treasury said total U.S. national debt stood at $40.047 trillion as of the previous day, surpassing $40 trillion for the first time ever. As of the 18th, prices of 30-year U.S. Treasury bonds had fallen to their lowest level in 19 years. The Treasury Department also said that on the same day it would more than double the size of long-term bond buybacks starting Sept. 9. In a statement on the 20th, Bessent stressed that the buyback program could be expanded further. However, 30-year Treasury prices resumed their decline despite a brief rebound on the 19th.
When asked on the 24th whether the buyback program could be expanded further, Bessent said, "We haven't bought a single Treasury bond yet," and added, "The next buyback is on Sept. 9."
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