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US Treasury urges calm as global bond sell‑off drags Treasuries lower
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US Treasury urges calm as global bond sell‑off drags Treasuries lower

US Treasury Secretary Scott Bessent urged investors not to panic over a record rise in Treasury yields. In an interview with Axios, he said borrowing costs reaching levels not seen since the early 2000s represent a global phenomenon, not a problem confined to the United States. Investors are not selling US Treasuries to rotate into German or Japanese debt, the secretary said. Instead, sovereign bonds are weakening in concert across global markets.
The broad market sell‑off was triggered by a perfect storm. Inflation refuses to fall because of expensive oil amid a protracted conflict with Iran. The situation is complicated by rising government debt and massive capital demands from the technology sector. Large corporations are actively pulling capital from debt markets to build data centers. A side effect of this race for artificial intelligence has been costly mortgages: rates for ordinary Americans firmly settled above 7%.
Despite this, Bessent flatly denies that a speculative bubble has formed. The Treasury chief argued that multibillion‑dollar borrowings by Microsoft, Google, and Meta are well backed by their real business revenues. At the same time, financial authorities have been forced to engage in hands-on market management: Washington and Tokyo continue to conduct coordinated interventions to support the Japanese currency.
Published 06 October 2026
© InstaFintech Group
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