The Trump administration has been paying close attention to the US Treasury market. After the outbreak of the US-Iran conflict, Bessant has been blaming the energy shock. After entering August, long-term yields rose again, and Bessant had to switch from verbal intervention to actual intervention. However, the market still did not buy it. Driven by the soaring expectations of the Fed's interest rate hike, the current benchmark 10-year US Treasury yield has reached 5%. Will Bessant's speech tonight alleviate market concerns?
