Welcome to Markets Desk, your midday read on what's moving money and markets.
Scott Bessent rattled bond traders this week with a plan to accelerate buybacks of long-dated Treasuries, and economists are calling it what it is — soft-form financial repression. With U.S. debt now at forty trillion dollars, the Treasury appears to be managing the cost of that burden rather than the burden itself, suppressing long-end yields through intervention rather than fiscal discipline. Markets are watching closely.
Shifting to energy infrastructure, gas turbine prices are on track to nearly triple as AI data centers consume power faster than utilities can build generating capacity. That supply-demand crunch is creating a durable tailwind for turbine manufacturers and power equipment suppliers, with investors rotating into names that sit squarely in that bottleneck. The energy buildout trade is no longer a theme — it's a structural position.
And at Berkshire Hathaway, Greg Abel has put twenty-three point five billion dollars to work across nine equity positions, with Warren Buffett still advising on capital allocation. The scale and deliberateness of that deployment signals conviction, not opportunism, and the market will be parsing each holding for clues about where Buffett's successor sees durable value in this environment.
That's the tape. Markets Desk, signing off the floor.
