US Treasuries Hold Gains as Bessent Says SLR Moves ‘Very Close’

US government debt held onto slight gains after Treasury Secretary Scott Bessent said that plans for deregulation were gaining momentum.

The advance on Friday pushed yields down by one to two basis points across maturities after Bessent said on Bloomberg Television’s Wall Street Week with David Westin that an easing of bank capital rules on Treasuries could happen this summer. He also said the US could strike several large trade deals in the next couple of weeks and downplayed the risks tied to debt dynamics.