U.S. Treasury yields were higher on Monday on reports President Donald Trump was backing off an all-out trade war, raising hope the U.S. economy could keep its expansion going.
The benchmark 10-year Treasury note yield rose more than eight basis points to 4.338%, and the 2-year Treasury yield was also more than nine basis points higher at 4.041%.
One basis point is equal to 0.01%. Yields and prices move in opposite directions.
The Wall Street Journal and Bloomberg News reported that planned tariffs from April 2 by the White House were set to be more narrow in scope and will likely exclude some industry-specific duties, providing optimism for investors. Trump had also hinted at “flexibility” for his reciprocal tariff plans on trading partners in comments made Friday.
“People are coming to me and talking about tariffs, and a lot of people are asking me if they could have exceptions,” Trump told reporters in the Oval Office. “And once…
