U.S. Treasury Secretary BESSENT concluded remarks.

China International Capital Co says market focus is Jackson Hole and a speech by Wash. His prior comment to “let the market do the Fed’s tightening” failed to ease inflation worries; combined with failed U.S. Treasury intervention this eroded policy credibility and pushed U.S. yields higher. CICC expects Wash to reiterate inflation risks and preserve the option to hike to rebuild credibility, while continuing to push for reduced central‑bank intervention and less frequent communication. He has not abandoned a “balance‑sheet reduction + rate cuts” policy concept, but its underlying assumptions appear misaligned with current conditions and need clearer coordination. If Wash demonstrates policy flexibility, pressure on U.S. Treasuries could ease and the dollar be supported; if not, trust may continue to fade, long‑end U.S. yields could rise further and the dollar come under pressure.

U.S. Treasury Secretary Bessent said the United Arab Emirates has been a good partner and has borne the brunt of the impact from Iranian attacks.