U.S. Treasury Secretary Defends Bond Sell-Off Amid Market Turmoil

Treasury Secretary Janet Yellen has defended recent sell-offs in U.S. Treasury bonds, asserting that the current market downturn is not indicative of a systemic crisis. She attributed the volatility to a natural process of deleveraging within fixed income markets. Ms. Yellen’s statement comes as long-term Treasury bond yields have experienced significant increases this week, despite a decline in stock prices. This surge contradicts their traditional role as safe-haven assets during times of market uncertainty.