Besenter Refutes Concerns Over U.S. Treasury Market Pressures
U.S. Treasury Secretary Besenter has rebutted concerns over the rising scale of U.S. debt and criticism of the Treasury's measures to manage market volatility, stating that market performance contradicts investor unease. He remarked, "First of all, I'm not sure where this so-called turmoil in the bond market is," pointing out that this year, the U.S. Treasury market has "performed the best" among other major global bond markets. Besenter emphasized that the U.S. economy continues to grow despite facing a massive budget deficit, placing it in a more favorable position. He noted that inflationary pressures from energy prices and the conflict in Iran have driven up yields, but these factors are expected to dissipate over time. He added that the rise in yields reflects confidence in the U.S. economy. Furthermore, Besenter dismissed concerns from some central bank officials regarding the Treasury's increase in the scale of Treasury buybacks, stating that this measure has not distorted the market or disrupted the predictable operational norms of the U.S. Treasury market.
-- Price
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