Bessent downplays rising yields and AI bubble concerns
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. Treasuries 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.
https://x.com/joemccann/status/2106456842608291997
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. Treasuries 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.
https://x.com/joemccann/status/2106456842608291997