US Treasury Secretary: Global bond sell-off driven by Japan market moves, unrelated to Greenland

US Treasury Secretary Bessent said on Jan. 21 that the recent market downturn was triggered by a six-standard-deviation move in Japan's bond market over two days, reflected in its 10-year government bond, BlockBeats reports. He noted the volatility is spreading across global fixed-income markets, with yields on German, French and US government bonds all rising. Bessent said he has been in contact with Japan's top economic officials urging them to stabilize their bond market, and reiterated the moves stem from Japan's bond market and are not connected to Greenland developments.