Bessent Says Rising Treasury Yields Are in Line With Global Trend, No Need to Panic

Although inflation concerns have pushed some benchmark yields to their highest levels in more than two decades, U.S. Treasury Secretary Scott Bessent said the recent rise in U.S. Treasury yields is in line with global trends and there is no need to be alarmed. "If we were seeing some kind of U.S.-specific rise, I would be concerned. We are not seeing people sell U.S. Treasuries and buy German bunds or Japanese government bonds," Bessent said in an interview article. "I can't control the bond market. What I can do is get people to slow down and think carefully," he said. Bessent also praised the U.S. financial intervention measures taken to bail out Argentina and said similar rescues could still be implemented in the future. Bessent also played down concerns about an AI-driven bubble. He argued that major companies such as Microsoft, Alphabet's Google and Meta Platforms Inc. are investing large amounts of capital and generating significant revenue growth for companies such as Anthropic and OpenAI. Regarding the Iran war, now in its eighth month, Bessent said: "We will get through this Iran conflict, and I think oil supply will become more abundant. The energy shock will fade."