0522 GMT - U.S. Treasury Secretary Scott Bessent can buy some time with an increased longer-dated bond buyback, but for the bond market's fiscal concerns to ease, actual action has to be taken in Washington, Bernstein Private Wealth Management's Matthew Palazzolo says in a note. Bernstein Private Wealth Management has limited expectations in this regard. "The bond market, though, is much larger and stronger than the Treasury," the senior investment strategist says. Relatedly, it's worth noting that the recent bond moves are not a U.S.-only phenomenon, he says. "So, to anchor the Treasury yield move in large part to our deficit issues is myopic, in our view," Palazzolo says.
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