Bessent to testify before House Financial Services Committee
- —The yield on 10-year US Treasuries exceeded 5% for the first time since 2007
- —The hearing topic is the annual report on the state of the international financial system
- —The market is looking for signals on the deficit, Treasury issuance and buybacks
- —Dovish rhetoric could ease pressure on the long end of the curve
Why it matters: Bessent's tone on the deficit and rates will shape yield moves and risk appetite, including for bitcoin and crypto assets.
Source: PANews