ISTANBUL
Rising concerns over the US economy and its fight against inflation, combined with the tariff agenda, led to increased selling pressure on long-term government bonds globally.
A federal appeals court in Washington, DC, ruled last week that US President Donald Trump exceeded his presidential authority with the sweeping reciprocal tariffs. If the Supreme Court rules that tariffs are illegal, it is unclear how the US economy will compensate for the revenue generated by the tariffs.
Meanwhile, the Fed is expected to cut interest rates on Sept. 17.
The US 10-year bond rose to 4.3%, Japan’s 10-year bond increased to 1.63%, and in the eurozone, France’s 10-year bond reached 3.58% and the UK’s 10-year bond 4.69% — the two countries where uncertainty persists.
In this climate, central banks and institutional investors have turned to gold, which reached another all-time high of $3,578.54 per ounce on…
