AsianFin -- U.S. Treasury Secretary Scott Bessent on Monday downplayed concerns over the recent bond market selloff, rejecting speculation that foreign governments were offloading large quantities of U.S. Treasuries.

Speaking at a press briefing in Washington, Bessent attributed the spike in yields to technical market factors and shifting investor expectations around interest rates, rather than any coordinated move by foreign holders.

“There’s no evidence of broad-based selling by foreign sovereigns,” Bessent said. “The fundamentals of the U.S. Treasury market remain strong, and demand continues to be resilient.”

While brushing off fears of a foreign exodus, Bessent acknowledged recent volatility and emphasized that the Treasury Department is closely monitoring market conditions.

“We have tools available to address any disorderly behavior or dislocation in the market, should it arise,” he said, without elaborating on specific measures.

The remarks come amid heightened scrutiny of Treasury yields, which have climbed sharply in recent sessions, fueling investor anxiety about liquidity and the U.S. fiscal outlook. Some analysts had pointed to unusually high trading volumes and a weakening dollar as signs of possible foreign divestment.

Bessent’s comments are aimed at reassuring markets that the U.S. remains committed to maintaining stability in its sovereign debt markets, even as it faces increasing budgetary pressures and a higher-for-longer rate environment.