"Only When Bessent Panics Will Treasuries Stop Panicking"! Is Bessent Set to Become the "Commander-in-Chief of U.S. Debt"?

Treasury Secretary Bessent is intervening in markets with the most aggressive stance in decades, with market participants bluntly stating that previously, bond traders could only stop panicking once the Federal Reserve began to panic, but now it should be revised to "only when Bessent panics will bond traders stop panicking." Media reports indicate that Bessent is further solidifying his role as the "Commander-in-Chief of U.S. Treasury Trading." However, against the backdrop of high fiscal deficits and stubborn inflation, Wall Street deeply doubts whether this "symptom-treating battle" can be sustained.