Treasuries Extend Rally as Traders Brace for Next Tariff Wave
Benchmark 10-year yields were down about 4 basis points to roughly 4.17% on Tuesday.
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The rally in US government debt picked up steam on evidence that factory activity is shrinking amid the Trump administration tariff vows and that the labor market is gradually cooling.
Tuesday’s advance sent benchmark 10-year Treasury yields down about seven basis points to roughly 4.13%, the lowest level since early March. Traders slightly boosted their bets on Federal Reserve interest-rate cuts, pricing in about 76 basis points of easing by December, versus about 74 before the data.