USA Treasury Secretary Janet Yellen stated that stronger-than-expected economic data triggered a repricing of market interest rate expectations, leading to a sell-off of USA Treasury bonds. "When we see strong data—economic performance indicators exceeding expectations—it suggests that the future path of interest rates will be slightly higher than people predict," Yellen said in an interview on Wednesday. She made this comment in response to a question about what factors have led to the decline in USA Treasury bonds and the rise in yields in recent weeks. Yellen also mentioned that the so-called term premiums have begun to normalize.