Daily Insights and finance industry analysis

President Trump and Treasury Secretary Bessent fuel rate volatility. The selling of longer-term Treasurys came to a halt this morning, with the 10-year yield falling 14 bps to an intraday low of 4.26%. The move was driven by President Trump, who said late yesterday that he would not fire Chair Powell, in addition to offering

Yield reverse course, equities surge in a risk-on session. After several weeks of yield curve steepening, the short end of the curve rose 1-6 bps and the long end fell 1-3 bps today. The move was driven by Treasury Secretary Bessent’s assertion that the US and China will have to de-escalate their trade tensions, as well

Yield curve steepens again. President Trump’s condemnation of Chair Powell and calls for near-term rate cuts have largely driven a US asset sell-off amid rising uncertainty. The long end of the yield curve rose 9-11 bps today, cementing a 11-28 bp rise over the past month whereas shorter-term yields have declined as many as 22

Yields reverse course to close out the holiday-shortened week. Treasury yields climbed 2-6 bps across a steepening curve today, partially offsetting the past 3 consecutive sessions of declines. The rise at the long end of the curve was driven by optimism from President Trump that the U.S. will be able to reach a trade deal with

Treasurys rise on Powell comments, Nvidia news. Treasury yields and equities fell today in a risk-off session. The flight to quality was initially driven by a warning from Nvidia that they would take a $5.5B hit from new government controls on semiconductor exports to China. The move continued after Chair Powell hinted that the US

Rates fall in a quieter session. Following the past few weeks of elevated volatility, rates markets were relatively quiet today. Treasury yields declined 1-4 bps across most of the curve, largely driven by continued trade wars between China and the U.S. The 2-year yield is currently 3.85%, down 40 bps YTD and -4 bps since

Treasury yields continue to soar. Last week’s dramatic flight to quality and surging demand for Treasurys has been almost fully reversed. Treasury yields rose 1-10 bps today, cementing a weekly increase of 30-50 bps. The 10-year yield rose more over the past five days than in any other week since the aftermath of 9/11, now

Rates fall on inflation data, further tariff developments. This morning’s CPI data fueled a 7 bp decline at the short end of the yield curve alongside growing odds for rate cuts. Clarification from the White House that tariffs against China are now 145% and China’s move to restrict American film imports further contributed to the decline

Tariff pause spurs market euphoria. Markets were relatively quiet today until President Trump announced a 90-day reciprocal tariff pause for all countries excluding China. Investors quickly flooded into riskier assets, and the short end of the yield curve soared as a result. The 2-year yield climbed to an intraday peak of 4.02%, nearly 40 bps above

Yields climb early but reverse course on US-China tariff news. The short end of the yield curve rose ~10bps to intraday highs early this morning, largely driven by optimism from Treasury Secretary Bessent regarding tariff negotiations. However, yields plummeted on reports that President Trump is eyeing additional tariffs against China. The yield decline continued throughout