Treasury Secretary Scott Bessent's warning to currency and bond traders has gone unheeded, with the 10-year Treasury yield hitting 4.93%—its highest since 2023—as the $32 trillion bond market tests his influence amid Iran war turmoil and rising US debt.
Bessent's Bond Market Challenge Falls Flat as 10-Year Treasury Yield Nears 5%
Treasury Secretary Scott Bessent's warning to currency and bond traders has gone unheeded, with the 10-year Treasury yield hitting 4.93%—its highest since 2023—as the $32 trillion bond market tests his influence amid Iran war turmoil and rising US debt.
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