Scott Bessent's recent rhetorical and policy push to control the bond market is being countered by the author's view that the bond market's behavior is normal. The implication is that Treasury market volatility does not necessarily justify official intervention or signal a funding-market breakdown.
•For the last two weeks, Scott Bessent has combined public statements with policy announcements aimed at controlling the bond market.
•Bessent has been making his case in interviews, beginning with the phrase "we believ..." (truncated in the article excerpt).
•The article's headline frames the bond market as "normal," directly opposing the idea that Bessent needs to manage it.