US Treasury Secretary Bessent Comments on Bond Market and Oil Price Outlook Amid Rising Yields

• US Treasury Secretary Bessent discussed bond market performance at G20.
• 10-year Treasury yields hit 20-month highs amid global selloff.
• Bessent forecasts oil prices to drop to $40 post-Iran conflict, pulling down yields.

US Treasury Secretary Scott Bessent, speaking at a G20 meeting on Tuesday, September 1, 2026, highlighted the US bond market’s global outperformance since President Trump’s return to office. These remarks were made as 10-year Treasury yields climbed to their highest point in nearly 20 months, driven by a global bond selloff that has sparked concerns reminiscent of the 1997 Asian financial crisis. Bessent noted that the 10-year yield is currently at the same level as when President Trump initially took office. He further projected that oil prices are expected to decline, potentially reaching as low as $40 a barrel following the resolution of the Iran conflict, which he anticipates would subsequently pull down bond yields from their recent multi-year highs.