Lates News

US Treasury Secretary Bessent will attend a hearing of the U.S. House Financial Services Committee tonight at 22:00, with the theme "Annual Testimony by the Treasury Secretary on the State of the International Financial System." Given that the current 10-year U.S. Treasury yield has risen above 5%, the market will focus on whether Bessent sends new signals regarding fiscal policy, Treasury issuance and buyback plans, debt management, and the outlook for the dollar and interest rates. If his remarks lean toward controlling the deficit and stabilizing the bond market, this could ease upward pressure on long-end U.S. Treasury yields; if he signals more fiscal expansion or tolerance for higher interest rates, then caution is warranted over further increases in U.S. Treasury yields, and attention should be paid to the linked reactions in the dollar, gold, U.S. equities, and risk assets.