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Treasury Secretary links yield rise to crises
The US Treasury Secretary, Scott Bessent, attributed the sharp rise in US Treasury bond yields to global crises and challenges, particularly after the 10-year Treasury yield reached its highest point since 2007. This increase was driven by a surge in oil prices, expectations of interest rate hikes by the Federal Reserve, and heightened competition for liquidity. He emphasized that these developments relate to efforts to address the fiscal deficit and to tighten the pressure on Iran through financial relations with Beijing. Additionally, there is a readiness to meet with the Chinese Vice Premier to discuss strategic issues, as attention turns to the upcoming summit between Presidents Trump and Xi Jinping.
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