[CALENDAR ADDITION] US Treasury Secretary Bessent to testify on the State of the International Financial System in front of the House Financial Services Committee at 10:00EDT/15:00BST

The State of the International Financial System testimony is a recurring fixture in which the Treasury Secretary appears before House Financial Services, historically centred on the multilateral institutions, the US role in the IMF and World Bank, exchange rate policy and sanctions architecture rather than on domestic issuance or the deficit. Market-moving content in these hearings has tended to come from the question-and-answer portion rather than the prepared remarks, with committee members steering toward whatever is topical: dollar policy, tariff and trade posture, China and debt-distress diplomacy, or Treasury market functioning. This Secretary in particular has prior form for generating headlines on FX, tariff policy and the composition of Treasury financing, so stray comments on buybacks, bill-versus-coupon issuance or the strong-dollar stance carry more weight here than the formal subject matter suggests. The precedent across comparable appearances is that written testimony is published shortly before the gavel and any repricing in the dollar or the curve has typically tracked the Q&A rather than the statement. The tells are the prepared text hitting the wires ahead of 10:00EDT and whether questioning drifts from the multilateral remit toward issuance and currency policy.