Source: New York Times
“A sharp sell-off in U.S. government bond markets has sparked fears about the growing fallout from President Trump’s sweeping tariffs and retaliation by China, the European Union and others …. Yields on 10-year Treasuries — the benchmark for a wide variety of debt — shot 0.2 percentage points higher on Wednesday, to 4.45 percent …. Yields on the 30-year bond rose significantly as well, at one point on Wednesday topping 5 percent. …. Scott Bessent, the U.S. Treasury secretary, sought to tamp down concerns on Wednesday, brushing off the sell-off as nothing more than investors who bought assets with borrowed money having to cover their losses. …. former U.S. Treasury secretary Lawrence H. Summers said the broader sell-off suggested a ‘generalized aversion to US assets in global financial markets’ and warned about the possibility of a ‘serious financial crisis wholly induced by US government tariff policy.'” (04/09/25)