U.S. Treasury Secretary Bessent on Sunday rejected concerns about the rising size of U.S. debt and criticism of the Treasury Department’s handling of market volatility, arguing that actual market performance does not support claims of investor unease. He said he was not convinced there was any real "bond market turmoil" and pointed to U.S. Treasuries as the best-performing major bond market globally this year.
Bessent also said the United States remains in a stronger position than many developed economies because its economy continues to grow despite running a large budget deficit. On yields, he attributed the recent rise to inflation pressure tied to energy prices and the conflict involving Iran, while saying those factors should fade over time. He added that higher yields also reflect confidence in the U.S. economy.
He separately pushed back against concerns raised by some central bank policymakers over the Treasury’s unexpected increase in the size of Treasury buybacks, denying that the move distorted the market or broke with the Treasury market’s long-standing pattern of predictable operations.
Odaily reported that U.S. Treasury Secretary Bessent on Sunday rejected concerns over the growing size of U.S. debt and criticism of the Treasury Department’s response to market volatility, saying the market’s actual performance does not match claims that investors are uneasy.
"First of all, I’m not sure where this so-called bond market turmoil is," Bessent said, adding that the U.S. Treasury market has been the "best-performing" one among the world’s other major bond markets this year.
Bessent also said the United States is in a more favorable position than many developed economies because its economy is still growing despite a large budget deficit.
On rising yields, Bessent said inflation pressure linked to energy prices and the conflict involving Iran had pushed yields higher, but he expects those factors to fade over time. He added that the increase in yields also reflects confidence in the U.S. economy.
He also pushed back on concerns from some central bank policymakers over the Treasury Department’s unexpected increase in the size of Treasury buybacks, denying that the move distorted the market or broke with the Treasury market’s long-standing predictable operating practice.
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