US Treasury Secretary Scott Bessent on Tuesday played down the most recent bond-market sell-off as worries mount over rising debt levels and energy-driven inflationary pressures.“The US bond market has been the best performing bond market. What happens over a month doesn't matter,” he said during a fireside chat at the G20 finance gathering in North Carolina.US Treasury yields were little changed on Tuesday after renewed strikes in the Middle East. The yield on the 10-year Treasury rose 3 basis points to 4.788 per cent, while the yield on the 30-year Treasury note rose 1 basis point to 5.259 per cent.Mr Bessent said US bond markets show inflation expectations are “low to down”. “This is a growth story,” he said.Federal Reserve Chairman Kevin Warsh on Monday told the G20 conference that he looked forward to learning more about other countries' growth prospects. He said the global economy was moving into a period of “secular growth” after experiencing a “global savings glut”.The Treasury Department moved to steady US bond markets by announcing it would at least double the size of its government debt repurchases. The department also said it would increase the size of its 10-20-year and 20-30-year options from $2 billion to $4 billion, with the change coming into effect on September 9 and running to November 4.The plan was criticised by US investor and Mr Bessent's mentor Stanley D...
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