U.S. Debt, AI Borrowing Binge Spurs Bessent's Bond Market Gambit; Risks Rise For Stocks, Dollar

The Treasury Department's Aug. 19 bond market intervention plan illuminated a key question for investors: Can financial markets digest bloated U.S. debt at the same time AI borrowing is spiraling from hyperscalers like Google, Amazon, Meta Platforms (META) and Oracle (ORCL)? In announcing at least a doubling of buybacks of long-term bonds, Treasury Secretary Scott Bessent seemed to acknowledge that…