US 10-Year Treasury Yield Declines for Second Session
On Tuesday, the yield on the 10-year US Treasury note dropped to approximately 4.35%. This marks the second successive day of decline as investor sentiment regarding the US economic outlook began to level out. The decrease in yields was spurred by President Donald Trump's decision to exempt essential technology products from new reciprocal tariffs. Additionally, reports indicating a potential pause on the 25% tariffs aimed at auto imports further alleviated market concerns. Nevertheless, uncertainty lingered as the US Commerce Department initiated a national security investigation into the imports of semiconductors and pharmaceuticals—sectors pivotal to global supply chains. Concurrently, Federal Reserve Governor Christopher Waller hinted at a softer stance in monetary policy, asserting that tariff-driven inflation is likely to be temporary. He underlined that the Federal Reserve is ready to further lower interest rates if needed, reiterating the central bank's dedication to fostering growth rather than tackling short-term, trade-induced inflationary pressures.
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