Bessent Blames 'Global Issues' for Rising Bond Yields — SkimNews
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- Scott Bessent testified before Congress and attributed rising US bond yields to 'global issues,' pushing back on domestic blame during a contentious House hearing (per CNBC).
- Bessent defended the Treasury's intervention record and the broader Trump economy, with Reuters, MarketWatch, and CNBC all covering the same Treasury chief's testimony.
Why it matters: Bessent's framing — pinning yields on 'global issues' rather than US fiscal or trade policy — is the kind of externalization that markets and Congressional overseers will test, given that Treasury intervention and Trump-era tariffs are direct policy levers Bessent himself oversees.
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