贝森特扩大美债回购被指“玩火”，美国或重演日本式货币贬值

Odaily News, the United States announced this week that it would expand its Treasury buyback program, triggering sharp market volatility. Investors have since begun drawing comparisons to Japan's policies, where measures taken in the past to lower borrowing costs led to a prolonged weakening of the yen. The dollar is currently at a three-month low and is on track for its worst weekly performance this month. In a surprise midweek announcement, the U.S. Treasury said it would double the size of its longer-dated Treasury buyback operations.

Robin Brooks, a senior fellow at the Brookings Institution, said the U.S. government's move is the "clearest sign" yet that the country is following in Japan's footsteps toward domestic currency depreciation. He described the U.S. government's action as "playing with fire." Treasuries initially rose after the announcement but have since given back those gains. Gold and other precious metals moved higher. Steven Barrow, head of G10 strategy at Standard Chartered Bank, said that using buybacks to suppress bond yields would only add further pressure on the dollar without addressing the root cause driving yields higher—namely, the fiscal deficit. (financemagnates)