Scott Bessent Says He Has ‘Information the Market Doesn’t’ on Japan — Hours Later, Tokyo's 10-Year Yield Hits 30-Year High
Treasury Secretary Scott Bessent said he expects Tokyo to move toward a stronger yen, hours before Japan's bond yield hit a 30-year high.
The U.S. Treasury Secretary said Japan's money (yen) would get stronger, and right after that, Japan's borrowing costs jumped to levels not seen in 30 years. When borrowing costs rise fast, it can affect how companies and people spend money worldwide.
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