By Kanishka Singh

WASHINGTON, Aug 21 (Reuters) - U.S. President Donald Trump said on Friday he ‌did not direct Treasury Secretary Scott Bessent ‌to intervene in the bond market this week and ​that the Treasury chief acted on his own authority based on his understanding of the issues.

Here are details:

• Bessent said on Thursday the government ‌could further increase ⁠its Treasury repurchases after a surprise announcement on Wednesday that it would spend ⁠double the expected amount on bond buybacks.

• "No, not at all," Trump told reporters on Friday ​when asked ​if he directed Bessent ​to intervene in ‌the bond market.

• "He's a very capable man. He wanted to do it. He's very good at it," Trump said. "He did that, yeah."

• Bessent is a former hedge fund manager with extensive experience ‌in sovereign debt and ​currency markets.

• By Friday, however, ​the declines in ​bond yields triggered by Bessent's announcement ‌had largely been unwound.

• ​Long-term Treasury yields ​recently spiked on concerns about the U.S. government's rising debt, inflation that remains stubbornly ​above the ‌Fed's 2% target and the implications for ​investment flows.

(Reporting by Kanishka Singh in Washington; ​Editing by Chris Reese)