When a major meltdown in Japanese bonds spilled over into US Treasuries during Scott Bessent’s high-profile visit to Davos in January, he had more than a few words for his Japanese counterpart.
The US Treasury secretary embarked on what Japanese officials viewed as more of a reprimand than a typical catch-up with Finance Minister Satsuki Katayama on the sidelines of the World Economic Forum, according to people familiar with the matter, who spoke on condition of anonymity to describe the private exchange. According to one of the people, Bessent fired off points so rapidly, her note-taking aide struggled to ...
