Treasury Secretary Bessent Downplays Bond Market Concerns Amid Global Sell-Off

U.S. Treasury Secretary Scott Bessent dismissed worries about rising bond yields on Tuesday, despite a global bond sell-off intensified by renewed conflict in Iran. The yield on 10-year U.S. Treasury notes reached its highest point since January 2025, and 30-year bond yields neared a 20-year high. Bessent stated that the U.S. bond market has been the best performing among major countries since President Trump took office in January 2025. Investors are selling bonds due to concerns that Middle East tensions will fuel inflation and prompt central banks to raise interest rates.