Bond Chaos, Deal Mania and Jamie Dimon: Inside Trump’s Tariff Reversal

WATCH: Was a 90-day pause always part of the plan? Bloomberg’s Jordan Fabian discusses President Trump’s policy u-turn.Source: Bloomberg

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By Justin Sink

April 9, 2025 at 11:02 PM UTC

This article is for subscribers only.

As Donald Trump’s sweeping “reciprocal” tariffs took effect just after midnight on Wednesday, the president was watching the bond market.

Long-term yields were soaring. The 10-year Treasury saw the biggest three-day jump since 2001. The president was confronting a worst-case scenario: voters who had returned him to the White House because of inflation now faced both increased prices and higher borrowing costs.