Trump

Interest rates rebounded Thursday despite efforts by Treasury Secretary Scott Bessent to put a lid on longer-term borrowing costs. The yield on the 10-year Treasury note, a key benchmark for mortgage rates, rose back to 4.69% Thursday. That is nearly where it stood early Wednesday before Bessent surprised financial markets by announcing that Treasury would double the size of a bond buyback program starting next month. The rebound in yields signals more will be needed to calm investors' worries about burgeoning government debt, heavy borrowing by tech firms, and the Federal Reserve’s commitment to fighting inflation.