CNBC Daily Open: The 'Bessent Bid' wares off

US Secretary of Treasury Scott Bessent spoke to CNBC in an exclusive interview on Thursday, May 28, 2026, announcing plans to expand the Treasury’s bond buyback operation beyond the initial $4 billion. He argued that current yields do not reflect market fundamentals, particularly noting weak liquidity in the 30-year bond. His remarks briefly eased yields, but the move was criticized by analysts like Evercore ISI, Jefferies, and JPMorgan, who described it as flawed or unsustainable. JPMorgan’s James Sullivan likened the approach to paying a mortgage with a credit card, highlighting potential long-term mismatches. Bessent also suggested that the U.S. budget deficit may have peaked under President Donald Trump, citing a $432 billion deficit in July, and dismissed critics of America’s ballooning debt as overblown, stating there is 'nothing magic' about the $40 trillion debt mark. Meanwhile, Wall Street experienced a pullback on Thursday, with the S&P 500 and Nasdaq Composite dropping 0.9% and 1%, respectively, leading to a 1.9% and 2.5% weekly decline. The Dow Jones Industrial Average also fell 1.8% week-to-date, marking back-to-back weekly losses. Futures suggest a muted open on Friday. Additionally, the article briefly touches on the challenges of humanoid robots, noting that industry leaders at the World Robot Conference in Beijing highlighted inefficiencies and learning curves as obstacles for humanoid robots entering the workforce.