Bessent Takes on the Bond Vigilantes

Andrew here. Twenty-five years ago this morning, at this hour, I was finishing up a prototype of this very newsletter. We were conducting a dress rehearsal and planning to launch DealBook that week.

I’ll never forget the images of the planes striking the World Trade Center, or the hours and days in the newsroom, on the phone with anxious New Yorkers and Wall Street executives trying to account for their colleagues. I knew people who died that day.

Sept. 11 shattered our sense of safety and our assumptions about the world and wrapped Americans in overwhelming grief. Yet in the weeks that followed, the country came together. In a far less polarized era, leaders sought to bridge divisions rather than exploit them. We rallied together.

Article source: https://www.nytimes.com/2026/09/11/business/dealbook/bessent-bond-vigilantes.html