Treasury Secretary Scott Bessent has become fixated on reducing 10-year bond yields, a goal that is also part of his broader strategy to keep government borrowing costs low. While some of this focus on yield is typical for the job, Bessent’s emphasis on lowering them has prompted many on Wall Street to reevaluate their predictions for 2025.
Source: https://www.bloomberg.com/news/articles/2025-03-23/-don-t-fight-bessent-s-treasury-is-new-mantra-in-us-bond-market