Charlie McElligott steamrolls the Treasury Secretary "Post the cringingly executed Treasury’s “Buyback” directive announcement (“By At LeAsT dOuBlE”??? …And how about the title seemingly accidentally forgetting to include the word “Buyback”???—bad day to be a first year in the Treasury media comms team), we saw a massive “Gold Up, Dollar Down” - impulse (and hey, even Bitcoin showing signs of life too)… as they have been acting as “Pressure-Release Valves” for the attempts at stabilizing the messy Rates predicament which US authorities are dealing with, as we obviously crossed the Administration’s rubicon w.r.t. the velocity of the UST Long-End repricing"(zerohedge)