U.S. Treasury · Scott Bessent · Fortune Technology
The bond market is sending CEOs a blunt message: Borrowing costs are going to go up
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The era of cheap money is officially over.
Key facts
- South Korea’s KOSPI is up 0.9%, Japan’s Nikkei 225 is down 0.3%, while Hong Kong’s Hang Seng Index rose 1.2%
- Alphabet raised almost $32 billion in debt in 24 hours in February, including a 100-year bond
- India’s NIFTY 50 is flat, while the STOEurope 600 is up 0.1% in early trading
- U.S. Treasury Secretary Scott Bessent’s $4 billion buyback plan for longer-dated government debt managed to calm bond markets for barely a day before they saw another sell-off, pushing up the yield
Summary
In today’s CEO Daily: Can the U.S. grow its way out of its fiscal burden? The big leadership story: Walmart will use its $3 billion tariff refund to lower prices. The markets: Trending positive heading into the U.S. market open. To some extent, skittish bond markets are another example of growing risks—and costs—in the U.S. economy.