US Treasury chief says rising bond yields due to ’global issues’

On Tuesday, September 15, U.S. Treasury Secretary Scott Bessent attributed the surge in bond yields to "global issues" during a congressional hearing. The administration's bond yields reached their highest levels since 2007, prompting Bessent to address the issue before a hearing led by the House Financial Services Committee. The committee's focus was on international finance system reforms, including the International Monetary Fund and World Bank, but it also addressed more pressing matters such as the rise in global bond yields and the administration's financial measures against Iran.

Bessent mentioned private discussions with China regarding Iranian financial links and indicated that discussions with Chinese President Xi Jinping at an upcoming summit would continue. As the hearing began, several protesters disrupted Bessent, demanding an end to sanctions on Iran and the war, which forced him to pause and restart his opening statement before the protesters were removed.