Druckenmiller criticizes Scott Bessent's bond buyback plan

Billionaire investor Stanley Druckenmiller publicly criticized Treasury Secretary Scott Bessent’s plan to expand long-dated bond buybacks, calling it a mistake. He argued that markets aggregate information beyond what committees can replicate and that propping up prices undermines fiscal accountability when the national debt exceeds $40 trillion. Bessent defended the program as routine liquidity operations, but Druckenmiller said such interventions distort signals from yields that reflect underlying fundamentals. The debate followed a rise in the 30-year Treasury yield to multi-decade highs, with the government moving to double buybacks from $2 billion to at least $4 billion per operation. Separately, SMCI remains a focal point for investors, with a P/S of about 0.56, a GF Score of 83/100, and active insider sentiment suggesting confidence in its growth, underscoring how market dynamics affect tech valuations in a high-interest-rate environment. Taken together, the remarks illustrate a broader clash over how much policy should influence markets versus letting prices clear through supply and demand.