Yellen Downplays Bond Spike and Strong Jobs Data, Sees No Market Dysfunction

Treasury Secretary Janet Yellen tried to calm markets amid a massive US bond rout, saying she sees no "evidence of market dysfunction" after the spike in yields.

Last week's jobs data was "impressive" but not a sign of an overheating labor market, Yellen told the Financial Times.

Yellen said she has not seen any evidence of dysfunction in connection with the increase in interest rates.

The jobs numbers were impressive, but not a sign of a torrid labor market, according to Yellen.

Yellen said she is not concerned about a repeat of this spring's bank failures, which were triggered by rising rates.