Treasury Secretary Scott Bessent confirmed he has personally connected with Stanley Druckenmiller in the wake of sharp criticism from his one-time mentor over recent actions in the bond market, while also suggesting that Treasuries may have seen stronger performance due to that same move.

"Stan's a great investor. He changes his mind a lot, and he doesn't like losing money. I think he lost money the day he sent in the editorial," Bessent told CNBC on Monday, referring to the billionaire investor's pointed opinion piece titled "Commentary: Let the Bond Market Speak" published in the Wall Street Journal. "Hedge fund managers like to speed things up," he added.

Druckenmiller had argued that policymakers should allow the bond market to function without interference, following the Treasury Department's unexpected announcement of an expanded buyback program for outstanding securities under Bessent's leadership.

Addressing the situation on Monday, Bessent stated, "my job is to make sure that the market is looking at fundamentals and that the market does not dictate policy." He further explained, "I can't affect the natural equilibrium. What we can do is send a signal."

The Treasury chief also projected that US Treasuries are poised to outperform other major bond markets this month, pointing out that 10-year yields have remained roughly unchanged since President Donald Trump assumed office.

Earlier Monday, US 10-year yields surpassed 4.75%, marking their highest level since January 2025, as climbing oil prices fueled expectations that the Federal Reserve may raise interest rates. Meanwhile, five-year yields also reached their highest point since early last year.

When questioned about his assessment of the market's response to the buyback announcement, Bessent responded, "I'll give you the counterfactual — What if I hadn't done it?"

"That's why we're the best performing bond market this month, perhaps," he concluded.