US Treasury Secretary Scott Bessent Says Rising Bond Yields Due to 'Global Issues'
Bessent said the increase reflects global pressures as 10-year Treasury yields hit levels not seen since 2007, analysts cited oil, rates and deficits.
- On Tuesday, Treasury Secretary Scott Bessent attributed rising U.S. bond yields to "global issues" during a House Financial Services Committee hearing in Washington, as 10-year yields hit peaks not seen since 2007.
- Analysts link the yield increase to higher oil prices, Federal Reserve rate expectations, and capital competition from AI spending, though Bessent acknowledged the rise partly reflects "the need to address the deficit."
- Defending Treasury's performance, Bessent cited two successful auctions in 20 years and confirmed the U.S. intervened with Japan to support its currency, signaling market credibility.
- Bessent confirmed he will meet Chinese Vice Premier He Lifeng this weekend to discuss Iranian financial links ahead of President Donald Trump's meeting with Chinese President Xi Jinping next week.
- During the hearing, protesters demanding an end to Iran sanctions briefly interrupted Bessent; lawmakers also questioned him regarding Trump's proposal to pay $5,000 to each American if his party retains congressional majorities.
13 Articles
13 Articles
US Treasury chief says rising bond yields due to 'global issues'
(Washington = Yonhap News) Correspondent Hong Jeong-gyu = U.S. Treasury Secretary Scott Besant said on the 15th (local time) regarding the recent surge in U.S. Treasury yields that it was "due to global issues"...
The yield on the 10-year U.S. Treasury note temporarily rose to 5.04 percent, a level not seen since 2007, while Treasury Secretary Scott Bessent said the phenomenon was primarily driven by global factors, not U.S.-specific problems. The budget situation, however, remains worrisome: the federal deficit has already exceeded the deficit of the previous full fiscal year, and the national debt has exceeded $40 trillion. The Treasury Department's bon…
US Treasury secretary Scott Bessent says rising bond yields due to 'global issues'
US Treasury Secretary Scott Bessent emphasized global challenges as the backdrop for increasing bond yields during his comments to reporters before a congressional hearing. The event was marked by protests advocating for the cessation of sanctions against Iran, momentarily disrupting the discussion. Bessent disclosed ongoing conversations with Chinese officials about Iran's financial connections, while President Donald Trump is set to continue t…
Bessent spoke to journalists after the 10-year U.S. Treasury bond yields reached peaks not seen since 2007
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