The treasury bond mess: is this the demise of the US as a safe haven?

The US government ramped up its purchase of treasury bonds in an attempt to lower yields and raise bond prices. Although these purchases caused a temporary fall in yields following an announcement by treasury secretary Scott Bessent, the intended effect did not last. By Friday afternoon, the yield on the 10-year treasury returned near pre-announcement levels, and the 30-year bond yield was trading at a high point.