CNBC's Jim Cramer on Wednesday praised the Treasury Department's quarterly refunding plan, saying its method of managing the U.S.' growing debt load is just what the unsettled bond market needed.
The routine announcement is receiving more attention than usual on Wall Street because of the steep rise in bond yields over the past few months.
Higher bond yields often lead to increased volatility on the stock market.
In particular, Cramer praised Josh Frost, the department's assistant secretary for financial markets, and the author of the report.
"The 30-year buck stops right here at the door of Josh," Cramer said.
Persons:
CNBC's Jim Cramer, Cramer, Josh Frost, Frost, Josh
Organizations:
Treasury, U.S, U.S . Treasury