Is Bessent's Twist A Dead-End Band-Aid? Fiscal Fears Not Technical Glitch Driving Long-End Yields, Goldman Warns 'Term Premia Here To Stay'

Policymakers are once again reaching for the maturity-extension playbook, hoping a few well-timed buybacks and a carefully worded signal can stop the long end from running away.

Goldman’s macro team is having none of it.

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