US President Donald Trump said the military represents the "ultimate intervention" available to Washington when asked by a reporter whether Treasury Secretary Scott Bessent was considering fresh measures to calm a turbulent bond market.
"The ultimate intervention is our military. And if we have to use that, we will," Trump told reporters on Friday at Joint Base Andrews, Maryland, as he prepared to depart for a campaign rally in South Carolina for Senator Lindsey Graham.
Reporter on Bond Market: The yields have come back up since then. Have you talked to Bessent about another type of intervention.?
— Acyn (@Acyn) August 21, 2026
Trump: The ultimate intervention is our military. And if we have to use that, we will. pic.twitter.com/JNQWvLoglr
The remark came in response to a question about whether yields, which had climbed back up after briefly easing, had prompted fresh discussions with Bessent about additional measures.
It followed a week of volatility in the Treasury market, triggered after the Treasury Department's surprise move on Wednesday to double the size of its planned bond buybacks to $4 billion.
Bessent had said the buyback programme could end up being larger than the $4 billion initially announced.
However, the relief proved short-lived, with 30-year yields rising over seven basis points to as much as 5.27% a day later, largely erasing the gains from the intervention.
Separately, Trump denied personally directing Bessent's actions when asked directly. "No. He wanted to do it," Trump said, adding that the Treasury Secretary had acted on his own initiative.
Q: Did you direct Bessent to intervene in the bond market?
— Acyn (@Acyn) August 21, 2026
Trump: No. He wanted to do it. pic.twitter.com/NDCaTDogmu
The bond market turbulence comes against a backdrop of mounting fiscal pressure, with US national debt having risen by $4 trillion since Trump returned to office, reaching $40 trillion.
ALSO READ: Bessent Says Buybacks Could Be More Than $4 Billion Per Issue
Analysts have also linked the yield swings to rising oil prices tied to the conflict with Iran, heavy debt issuance from technology companies expanding AI infrastructure, and a widening federal budget deficit.
Market watchers have cautioned that the Treasury's buyback efforts may offer only temporary relief. Analysts cited in reporting on the intervention have described such measures as a "band aid" that does not address the underlying problem of ballooning federal debt and interest costs.
Trump's comments on potential military intervention drew attention for linking economic policy tools with defence capability, at a moment when his administration is also navigating an escalating standoff with Iran.
ALSO READ: 'US Crisis Being Diverted': Iran Warns Trump Of Consequences After Economic D-Day Threat
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