Treasuries Pare Losses After Trump Calls for Mortgage Purchases

Long-dated Treasuries trimmed losses after President Donald Trump called for the purchase of $200 billion of mortgage bonds in an effort to bring down housing costs.

The yield on 10-year notes — a benchmark for mortgage rates — edged lower shortly before close on Thursday after Trump’s post on Truth Social in which he said he instructed “representatives” to buy the mortgage-backed securities. The 30-year yield moved close to unchanged on the day.