U.S. Treasury Secretary Bessent said the recent rise in U.S. Treasury yields is
consistent with a global trend and does not warrant overreaction. In an Axios
interview Saturday he said he would be worried only by an idiosyncratic spike
and that he has not seen flows selling U.S. Treasures to buy Bunds or JGBs. He
added he cannot control the bond market and can only urge market participants to
pause and reassess. Bessent praised U.S. financial intervention in Argentina,
said he is open to similar assistance in future, and called Argentina’s
stabilization potentially generational for Latin America’s alignment with the
U.S. He also dismissed concerns of an AI bubble, noting heavy investment from
Microsoft, Google and Meta and marked revenue growth at Anthropic and OpenAI.
