U.S. Treasury Secretary Yellen: Fiscal sustainability is crucial, and President Biden is committed to putting forward a fiscal plan that demonstrates sustainability.

U.S. Treasury Secretary Yellen: Long-term yields may fall, no one can be sure.

U.S. Treasury Secretary Yellen: The basic trends in the era of low interest rates still exist.

U.S. Treasury Secretary Yellen: Part of the reason for the rise in yields is expectations that interest rates will remain high for a long time.

U.S. Treasury Secretary Yellen: Rising bond yields have little to do with the deficit. Bond yields are rising in most advanced economies around the world.

U.S. Treasury Secretary Yellen: The "Inflation Reduction Act" and the "CHIP Act" triggered huge investments, and we are starting to see investments now "paying off."

U.S. Treasury Secretary Yellen: Creating more of these jobs in communities with fewer economic opportunities.

U.S. Treasury Secretary Yellen: Investments in infrastructure, chips and green energy will create jobs.

U.S. Treasury Secretary Yellen: The real income of a considerable number of Americans has not increased significantly for a long time.

U.S. Treasury Secretary Yellen: Americans have been through a lot, but they are satisfied with their personal financial situation. They seem worried about the economy.

U.S. Treasury Secretary Yellen: We see good and strong consumer spending and the economy is doing well. Growth in the United States has a positive impact on the global economy.

U.S. Treasury Secretary Yellen: Our current situation looks like a soft landing.

The U.S. 10-year Treasury yield fell by 11 basis points on the day.

Market news: The Bank of Canada will convert its reverse repurchase operation into a "temporary" operation.

The Fed accepted a total of $1.09 trillion from 98 counterparties in fixed-rate reverse repurchase operations.

According to the Washington Post: The United States and Qatar have agreed to review Qatar’s relationship with Hamas. Qatar will reconsider ties with Hamas after hostage crisis is resolved.

The U.S. 5-year Treasury bond yield fell 10 basis points to 4.8093% after the auction.

Market news: South African lawmakers approve upstream oil control bill.