BESSENT: THIS IS WHAT’S REALLY MOVING MARKETS
Treasury Secretary Scott Bessent says the selloff isn’t about Greenland or politics.
It’s Japan.
Japan’s 10-year bond market just had a six-standard-deviation move over the past two days.
And it’s leaking everywhere:
🇯🇵 Japan blew out
🇩🇪 German yields higher
🇫🇷 French yields higher
🇺🇸 U.S. yields higher
He called it a global bond shock, not a trade headline. He’s already been in touch with Japanese officials trying to calm things down.