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US Treasuries sold off on Wednesday as President Donald Trump’s tariffs came into effect, deepening investor concern about the “safe haven” status of US sovereign debt.
The yield on the 10-year US Treasury bond jumped as high as 4.51 per cent before settling at 4.42 per cent — up 0.15 percentage points on the day — while the 30-year yield briefly rose above 5 per cent.
The moves offer a fresh challenge to the Trump administration, which had previously cited lowering Treasury yields as a key policy aim and could also mark a loss of investor confidence in the world’s largest sovereign debt market.
“The sell-off may be signalling a regime shift whereby US Treasuries are no longer the global fixed income safe haven,” said Ben Wiltshire, a rates strategist at Citi.
Tuesday’s sell-off is the latest…
