US Treasury Secretary Bessent says oil prices will come down, CNBC Interview; says Trump has been saying Iran is not ready to make a deal

IRAN SANCTIONS "Operation Outcast" will make Iran make a deal. The goal is to create a condition that they'd want to come to the table for. CHINA "You don't know that" China has been resistent on Iran. Can do this without China; Iran oil on water is only limited. Had a robust meeting with PBoC Chief last night. Have more in common with China on Iran than we disagree on. JAPAN Believes Japanese government and BoJ are to do things that lead to JPY rise. Yen market is pricing in expectations now. CANADA Will meet Canadian counterpart at G20. Not in a war with Canada. Canadian PM turned this into a shouting match. PM Carney is not doing what is best for Canadian people. BONDS Fed Chair Warsh and Bessent are on the same page on bonds. US bond market best performing this month. Says Fitch has reaffirmed US credit rating. Does not believe he can change equilibrium price. 10-year yield is the flattest since President Trump came in. Perhaps the US bond market is the top bond market due to the buyback news. Working with Vought on fiscal consolidation package FED Does not want to speculate on what it might do. Traditionally do not raise rates into a supply shock. INFLATION Core inflation has remained very restrained.