Bessent Rejects ‘Capital Flight’ Claims, Cites 89.2% Dollar Share

Bessent's framing matters less as a rebuttal of capital-flight talk than as a signal of how the Treasury wants its own market operations read: buybacks as plumbing, not intervention. The dollar's trading share is a flow metric, not a reserve one, so it does little to settle the underlying debate about foreign appetite for US assets. For RWA and tokenized-treasury markets, the operative question is whether official liquidity support keeps the short end deep enough to anchor on-chain yield products. Whether auction demand stays strong is the open question.