US Treasury Yields Hit 5.041% in 2007-Level Surge as Treasury Secretary Cites Global Factors

American 10-year Treasury yields have surged to a 2007-level high of 5.041%, prompting U.S. Treasury Secretary Scott Bessent to cite global factors as the cause. Speaking at a House Financial Services Committee hearing on Thursday (local time), Bessent acknowledged that fiscal deficits are being reflected in bond yields and praised recent successful long-term debt buybacks by the U.S. Treasury Department.