“There was, like, this fever that was building,” in the bond markets, Bessent said Tuesday, appearing to suggest that yields had risen largely because of the “financial press.” “They get a hold of a narrative, and I wanted things to become more fact-based,” he told Breitbart.“My job is to try to push things back towards equilibrium.”But it is this outlook from Bessent, that the government should take actions to keep yields down, which investors see as a potential trap for the Treasury Department.“Once markets believe Treasury is defending a price, every rise in yields becomes a test of official resolve, and the operations must grow to survive the tests,” wrote legendary investor Stanley Druckenmiller in a widely read Wall Street Journal op-ed in August. Peter Boockvar, chief investment officer at One Point BFG Wealth, referred to that op-ed on Wednesday, writing, “You can be sure the market will continue to ‘test’ the ‘official resolve’ if they feel the fundamentals warrant.”Many investors and economists believe the fundamentals do warrant it. Just weeks ago, the U.S. national debt surpassed $40 trillion, a level never seen before. The path to that massive number had been visible for years, but it nonetheless drew attention to America’s reliance on the rest of the world to buy its debt. “Sovereign debt around the world has exploded and we’re all competing for the same pool” of investors, wrote Diane Swonk, chief economist at KPMG recently. “You’ve got a lot of debt without as many buyers,” she told Jattvibe News in August.Bessent seemed to acknowledge that worry last month, when he told CJattvibe he was working with the White House on a “fiscal consolidation package that we’ll be talking about more in the coming weeks or months.”The Treasury Department and OMB have not yet shared and details of that plan.Earlier this week, however, Bessent did not appear particularly concerned about America’s ballooning debt.“The U.S. bond market has been the best performing bond market in the world since President Trump came in,” he said at an event at Southern Methodist University. “If people were worried about the U.S. bond market or the U.S. defaulting, then they would be selling U.S. bonds and buying German bonds or Japanese bonds. But the U.S. bonds were performing better.”