Bessent Sees ‘Normal Deleveraging’ in Bonds, Warns China on Yuan
(Bloomberg) -- Treasury Secretary Scott Bessent played down a selloff in US Treasuries, saying that there was nothing systemic at play, and also served warning against China not to attempt to devalue its exchange rate in retaliation for American tariff hikes.“There’s one of these deleveraging convulsions that’s going on right now in the markets,” Bessent said on Fox Business, adding that he’d witnessed those very often in his decades-long hedge-fund career. “It’s in the fixed-income market. Ther