Bessent Says Recent Bond Moves Have Just Been 'Noise'

Summary

Treasury Secretary Scott Bessent dismissed the recent 24-hour bond market move as noise and said the Treasury is focused on fiscal consolidation and restoring market equilibrium. He expressed confidence that bond yields will continue to decline. Separately, he said today's oil price spike is not understandable and predicted the administration's economic actions will bring oil prices down sooner.

• Bessent calls any 24-hour market move noise.
• He stresses Treasury focus on fiscal consolidation and market equilibrium.
• He expects bond yields to keep declining once the market understands policy.
• He questions the day's spike in oil prices.
• He predicts economic action will push oil prices down sooner.