Treasury Secretary Scott Bessent’s benchmark financial asset — 10-year US Treasuries — are poised to mark their biggest monthly tumble since Donald Trump returned to the White House, casting a shadow over the economic outlook as the administration struggles to contain an energy crisis.
While Bessent has assured that the global oil deficit caused by the Iran war is being addressed, and predicted crude prices will retreatBloomberg Terminal within months, investors are flagging enduring concern. In spite of Tuesday’s rally in government debt, 10-year yields are up 35 basis points on the month, reflecting inflation risks from higher energy costs and diminished likelihood of Federal Reserve interest-rate cuts in the coming year.
