FX.co ★ US 10-Year Yield Holds Steady

On Thursday, the yield on the U.S. 10-year Treasury note remained steady at approximately 4.36%, as investors weighed President Donald Trump's evolving approach to Chinese tariffs. Reports suggest the Trump administration is contemplating a reduction in tariffs on Chinese goods, contingent on negotiations with Beijing. China has expressed willingness to engage in trade talks, provided that the U.S. avoids further threats. However, Treasury Secretary Scott Bessent tempered initial optimism by clarifying that formal discussions have not commenced and no plans for unilateral tariff reductions have been introduced. In a separate development, President Trump’s recent assurance that he does not plan to oust Federal Reserve Chair Jerome Powell has alleviated some concerns regarding political influence over monetary policy, thereby providing a measure of stability to bond markets.