US Treasury Secretary: Market decline influenced by abnormal fluctuations in Japan's bond market, unrelated to Greenland

US Treasury Secretary Bessent stated: I believe the market downturn is mainly due to the abnormal fluctuations of six standard deviations in Japan's bond market over the past two days, reflected in their 10-year government bonds. I have been in communication with Japan's economic officials and urged them to take necessary measures to stabilize their bond market.
This volatility is spreading to all global bond markets, with German government bond yields rising, French government bond yields rising, and US Treasury yields also increasing. I want to emphasize again that this is primarily due to issues in Japan's bond market and has nothing to do with Greenland.