G-20 Squabbling Overshadows Summit as Global Bond Markets Strain
The finance ministers’ gathering comes to a close amid a global bond-market selloff, spats over tariffs, and public insults.
U.S. Treasury Secretary Scott Bessent convened the G-20 finance ministers' summit in North Carolina to address global economic concerns. However, the summit quickly became marred by disagreements over tariffs, spats between delegates, and insults. Global bond markets experienced a selloff, leading to rising yields and increased borrowing costs for governments.
Despite Bessent's claim of productive meetings, investors expressed concerns about the inability of leaders to address challenges that could quickly escalate. The benchmark 10-year Treasury yield reached 4.795%, the highest since the start of President Trump's second term. The U.S. argued that economic growth could outpace debt, but bond markets defied this optimism.
China's absence from the consensus statement and Russia's continued invitation to the summit further fueled tensions. As the summit concluded, Bessent urged the U.S. to stop engaging in "memes" and "shade" and instead focus on constructive discussions.
Written by urgent.news from Hindustan Times - World News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
