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U.S. Treasury Secretary Scott Bessent, in a move befitting the most economically interventionist U.S. administration in half a century, announced his intention Wednesday to intervene to artificially cap runaway yields on U.S. government debt.

The move, which had a tiny positive impact that lasted less than an entire day, is a sign of the Trump administration’s rising panic over rising yields on its long-term debt. Yields on 10-year and 30-year Treasury notes remain at about 20-year highs. That is an indicator that buyers need serious incentives to dip their toes into the increasingly toxic waters of U.S. government debt.

U.S. Treasury Secretary Scott Bessent, in a move befitting the most economically interventionist U.S. administration in half a century, announced his intention Wednesday to intervene to artificially cap runaway yields on U.S. government debt.

The move, which had a tiny positive impact that lasted less than an entire day, is a sign of the Trump administration’s rising panic over rising yields on its long-term debt. Yields on 10-year and 30-year Treasury notes remain at about 20-year highs. That is an indicator that buyers need serious incentives to dip their toes into the increasingly toxic waters of U.S. government debt.

Why are the interest rates the U.S. government is paying on its bonds higher than they have been........

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