(Bloomberg) -- President Donald Trump is monitoring but not worried about the recent rise in long-term market interest rates, his chief economic adviser Gary Cohn said in an interview with Bloomberg Television on Friday.
“He's not concerned, but we are watching it,” Cohn said.
Treasury yields reached fresh highs this week, with the 10-year yield surpassing 2.8 percent and the 30-year bond yield rising above 3 percent for the first time in eight months. In January, Treasuries posted their biggest monthly loss since the U.S. presidential election in 2016.
“We've had a mild back-up in Treasury yields but look at what's going on in the economy, look at what's going on in growth, look at what's going on in corporate earnings, that what's driving the economy," Cohn said.
To contact the reporter on this story: Shelly Hagan in Washington at shagan9@bloomberg.net.
To contact the editors responsible for this story: Brendan Murray at brmurray@bloomberg.net, Sarah McGregor
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