U.S. Treasury Secretary Scott Bessent made his first public comments on the French bond market turmoil on the 2Way platform on Tuesday ET, stating, "I don't expect what's happening in France to spill over," and praising French President Macron's economic team as "first-rate." However, he also admitted observing capital flowing out of "some worrying countries" and into U.S. Treasuries for safety, which was "unexpected." Previously, the benchmark 10-year U.S. government bond yield had fallen by approximately 20 basis points from its early October high, and the spread between French and German 10-year government bonds had approached 160 basis points within October. The French 10-year government bond yield had previously risen to 4.963%, its highest level since 2002.