TOKYO — The question of who was behind the U.S. Treasurys sell-off after President Donald Trump’s announcement of “reciprocal tariffs” on April 2 continues to animate market players, with hedge funds making bets in the bond market emerging as potential “suspects.”
Treasury yields initially fell after Trump’s announcement as frightened investors sold off stocks to seek refuge in what is traditionally considered a safe-haven asset. But soon Treasury yields began rising in an unexpected dumping of the assets.
