India, Aug. 9 -- US Treasury Secretary Scott Bessent appears to be taking new steps to stop US bond yields from rising further. Wall Street traders and strategists say his recent actions show that he is increasingly focused on easing pressure in the Treasury market. The pressure on the Treasury market has become a major concern for investors. Long-term US interest rates recently surged to their highest level in 19 years.

Higher long-term bond yields matter far beyond Wall Street. They can increase borrowing costs for homebuyers, companies and other parts of the US economy. Bessent made several moves within just one week that caught the attention of bond investors. Market participants see the moves as an attempt to control the rise in lon...