U.S. Treasury Secretary Bessent said a new “industrial supercycle” is unfolding, citing real wage growth outpacing inflation and rising job creation during a House hearing interrupted by anti-war protesters. Bessent said the Iran threat is being ended rather than “managed,” and noted “forward-looking statements” from the UAE on Iran. He also said Treasury officials recently visited the UAE for productive talks. On 10-year Treasury yields, he identified rising oil prices as the main driver.