Bessent says interest rates should decrease if the Iran conflict ends

U.S. Treasury Secretary Bessent stated that the correlation between bonds and energy is unusually strong; once the Iran conflict ends, interest rates should decline. He mentioned that there is currently a period of insufficient liquidity, which is why the scale of repurchase operations has been increased, and yields are "deviating" from the equilibrium level; since the expansion of repurchase operations, the yield on 30-year U.S. Treasury bonds has not risen significantly.