Bond sell-off continues, yet Bessent shrugs off concerns

U.S. Treasury Secretary Scott Bessent downplays concerns as the global bond sell-off deepens with the U.S. 10-year treasury yield hitting a 20-month high. The G20 summit in North Carolina leaves European officials astonished at the Russian Finance Minister’s attendance, but Bessent says there will be no sanction relief until the war in Ukraine is over. Shein struggles in its Hong Kong IPO, as the valuation of the fast-fashion giant falls by some three-quarters since its private market peak in 2022.

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