Trump Gives Treasuries a Lift by Downplaying Progress on Tariffs
- Yields on 10-year notes got as low as 1.89% after his remarks
- It’s still the Treasury market’s worst week in about a month
Donald Trump speaks to members of the media before boarding Marine One on the South Lawn of the White House on Nov. 8, 2019.
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
U.S. Treasuries reversed losses after Donald Trump downplayed the amount of progress made in trade negotiations with China, saying he hasn’t agreed to roll back all tariffs.
Bonds reached session highs on a burst of volume following Trump’s remarks, driving yields on 10-year notes as low as 1.89% from around 1.92% when he spoke. Yields dropped across the curve Friday. Even still, the Treasury market is poised for the biggest weekly sell-off in about a month. For the week, the 10-year rate is up 19 basis points, spurred by optimism about the trade talks.