Bessent Attributes Rising Bond Yields to Global Issues
The Treasury Secretary's comments come as the 10-year yield trades near 5%
Published
Chart: US10Y, US 10-year Treasury yield, one-minute prices, three sessions
Treasury Secretary Scott Bessent said rising bond yields are due to "global issues," rather than domestic fiscal policy.
The comment comes a week after the Treasury's bond buyback program disappointed investors, according to market participants. The 10-year yield has climbed toward 5% in recent weeks.
Bessent did not detail which global factors he meant, and did not announce any new step on debt issuance or buybacks.
For bondholders, the direction of yields determines returns on existing debt and the cost of new borrowing for the government. A continued rise toward 5% would deepen losses for holders of longer-dated Treasuries and raise the government's own borrowing costs.