Bessent downplays concerns over rising yields and AI bubble

BlockBeats news, October 4 — U.S. Treasury Secretary Bessent said the recent rise in U.S. Treasury yields is in line with global trends and there is no need for excessive alarm. On Saturday, in an interview with Axios, he said: "If there were some kind of idiosyncratic rise, I would be worried." "(But) we have not seen people selling Treasuries to buy German or Japanese debt." "I cannot control the bond market. What I can do is get people to slow down and think."

In addition, Bessent also dismissed concerns about an AI bubble, arguing that major players such as Microsoft, Google, and Meta are investing large amounts of capital and driving companies such as Anthropic and OpenAI to achieve significant revenue growth.