US Treasury Secretary Bessent says the US is experiencing a capex boom, which always leads to an employment boom. The narrative of EU nations discussing selling USTs is false; there is no talk of this, it is mis-reporting.

US Treasury Secretary Bessent's comments emphasize a strong outlook for the U.S.

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[MARKET UPDATE] USD hit as Bessent talks, to the benefit of the GBP and EUR. Bessent essentially called for calm and some patience on relations re. Europe & Greenland, saying he is confident it will all work out and leaders won't escalate

US Treasury Secretary Bessent on new Fed chair says they have four excellent candidates and that an announcement could come as imminent as next week

US Treasury Secretary Bessent says the US is experiencing a capex boom, which always leads to an employment boom. The narrative of EU nations discussing selling USTs is false; there is no talk of this, it is mis-reporting.

Japan Chief Cabinet Secretary Kihara says long term rate moves are to be determined by markets; are watching market moves incl. long-term rates

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On trade:

  • Says the worst thing countries can do is heighten trade tension with the US.
  • The narrative of EU nations discussing selling USTs is false. There is no talk of this, it is mis-reporting.
  • Swiss-US agreement is well along the road.
  • On EU-US relations, says there is no need to jump to the worst case scenario at this point. Reminds that trade ties have been strained before, and it worked out. Is confident that leaders will not escalate and that it will work out. 

On Economy:

  • Expects economic growth to be strong this year, at around 4-5% real GDP growth.
  • They will see substantial refunds of up to USD 1000 per worker in Q1.
Context

economy driven by capital expenditure and anticipated employment growth, which may support a more resilient USD. Additionally, his insistence that reports of EU countries selling U.S. Treasuries are false helps stabilize sentiment around U.S. assets amid evolving trade dynamics. This overall narrative suggests potential market stability, but traders should remain vigilant about underlying tensions that could influence cross-border relations and market reactions.

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