Bessent Says Treasury Yield Rise Tracks Global Trend

Treasury Secretary Scott Bessent said the recent increase in U.S. Treasury yields is in line with a global trend, and he saw no sign investors were selling U.S. debt to buy German or Japanese bonds.

Bessent said a distinct rise in Treasury yields would concern him. He also urged people to take time to consider market developments, saying, “I can’t control the bond market. What I can do is get people to slow down and think.”

Bessent also dismissed concerns about an artificial intelligence bubble. He pointed to heavy spending by Microsoft, Google and Meta, saying the companies are driving significant revenue growth at Anthropic and OpenAI.