[U.S. Treasury Secretary Says U.S. Debt Buybacks 'Not QE,' Challenges Yen Short Sellers to 'Bet Against Me'] U.S. Treasury Secretary Besent stated at a Breitbart News event in Washington that the Treasury's expansion of buybacks for 10- to 20-year 'old issuance' U.S. Treasury bonds aims to stabilize long-term yields and correct the bond market 'frenzy,' rather than engage in quantitative easing (QE). The market anticipates that the scale of this round of buybacks may not be less than $4 billion, and if it approaches $10 billion, it could establish a new benchmark for subsequent operations and potentially suppress long-term yields. Morgan Stanley noted that $10 billion is close to the current operational ceiling, while Wrightson ICAP believes $5 billion to $6 billion is a reasonable starting point. Besent emphasized that the buybacks are a term structure adjustment similar to 'Operation Twist' and denied that they stem from credit concerns. He also stated that regarding yen intervention, he is 'the dealer' and will leverage informational advantages to counter yen short sellers.