Bessent’s Mentor Druckenmiller Calls Bond Buying a Mistake

Stanley Druckenmiller, the billionaire investor who mentored US Treasury Secretary Scott Bessent in his early career as a hedge fund trader, suggested his former pupil is making a mistake by wading into the bond market. Bessent has recently pledged to increase the Treasury’s purchases of long-dated bonds, a move widely seen as an attempt to push down yields in the world’s most important debt market. Jason Trennert, Chairman and CEO at Strategas Research Partners, discusses US Treasury Secretary Scott Bessent's focus on yields and what to expect from Jackson Hole and the Fed. (Source: Bloomberg)