US Treasuries Fall on Signs That Trump Will Dilute April Tariffs
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US Treasuries fell on Monday, a sign that investors are favoring riskier assets after President Donald Trump indicated that tariffs arriving next month will be more targeted than anticipated.
The yield on the 10-year note rose 8 basis points to 4.33%, and the benchmark was trading around its session high late in New York, while major US stock indexes rallied more than 1%. The shift away from Treasuries picked up steam after the US Purchasing Managers’ Index pointed to growing strength in the service industry, which overshadowed a contraction in the manufacturing sector in March.