March 24, 2025 (NO COMMENTS)

US Treasury secretary Scott Bessent wants to lower the yield on 10-year Treasuries.

Whether he can or not has become – trade wars aside – “the question of 2025”, says Florian Ielpo, head of macro at Lombard Odier Investment Managers.

For the most part, the views of buy-siders on the matter are not encouraging. Many investors – who until recently counted Bessent, a former hedge fund manager, among their peers – are sceptical of his chances. The bond markets, they argue, can’t be pushed around with