Scott Bessent Set For CNBC Interview As Treasury Yields, Fuel Prices Rise

According to CNBC, Treasury Secretary Scott Bessent is scheduled to appear on "Squawk Box" on Monday morning at 8 a.m. as the Trump administration faces concerns over rising fuel prices, interest rates and artificial intelligence risks. His appearance follows a weekend meeting with Chinese Vice Premier He Lifeng ahead of a summit in Washington later this week between Chinese President Xi Jinping and President Donald Trump. Bessent said the two discussed AI and trade, and he previously told Axios he was open to discussing shared AI risks with China. Bessent also highlighted a Sept. 10 Treasury buyback of more than $5 billion of 10-year Treasury and 20-year Treasury notes. He told the House Financial Services Committee on Sept. 15 that the buyback was successful and said yields would have risen even more without it. The benchmark 10-year Treasury yield has climbed about 100 basis points since the U.S. and Israel's war against Iran began in late February, topping 5% last week for the first time since 2007. Mortgage rates also rose above 7% this month for the first time in more than a year.