Treasury yields rose on Thursday as traders assessed the implications of a trade deal between the U.S. and the United Kingdom.
The 10-year Treasury yield climbed more than 11 basis points to 4.39%. The 2-year Treasury yield gained more than 10 basis points, trading at 3.893%.
One basis point is equal to 0.01% and yields and prices move in opposite directions.
Trump announced the outlines of a deal from the Oval Office ealier Thursday with U.K. Prime Minister Keir Starmer on speakerphone, announcing a 10% baseline tariff on British imports into the United States. The announcement was short on details otherwise.
“The final details are being written up,” Trump said. “In the coming weeks we’ll have it all very conclusive.”
Despite the lack of details, traders took the news as a positive for the future of global economic growth.
“These deals that are being struck will be deals in principle, and then the finer details will follow. There are…
