The Secretary of the Treasury of the United States, Scott Bessent, has indicated that he does not foresee a scenario of financial contagion as a result of the tensions currently affecting France's sovereign debt in the markets. However, he has noted that investors may be leaning towards U.S. debt as a safe haven asset compared to other issuers that raise more concern.
In an interview granted to the platform 2Way, Bessent emphasized that, since President Trump's arrival to power, the U.S. bond market "has been the best performing in the world."
"Although it is not something we planned, we are witnessing a capital flight towards safety in U.S. territory, moving away from other countries that generate greater concern," he explained.
At the same time, after warning that "France is facing a difficult situation," the head of the U.S. Treasury has highlighted that the economic team accompanying President Macron "is top-notch."
"I do not foresee a contagion effect from what is happening in France," he added, dismissing that the tension over French debt will extend to other markets.