Bessent has an advantage over the bond vigilantes who are shorting Treasuries. He’s privileged to see the upcoming CPI and PPI reports before the markets. If these signal lower inflation, the bond shorts will be forced to cover, and bond yields will tank. I wouldn’t bet against someone with insider information.
CPI and PPI are short-term readings that cannot outweigh a burgeoning deficit. The war and the $5000 Trump Dividend just widen the bleeding.