The yield on the 10-year US Treasury note held around 4.2% on Tuesday, hovering near a three-month low as investors assessed global trade tensions and evolving Fed policy expectations. President Donald Trump threatened significantly higher tariffs on India for continuing to import Russian oil, while the EU paused planned retaliatory tariffs against the US for six months to allow for more negotiations. Yields have remained under pressure since last week’s weaker-than-expected July jobs report, which bolstered bets on a Federal Reserve rate cut in September. Adding to the uncertainty were the resignation of a Fed Governor and Trump’s dismissal of a top government statistics official. Investors now await June trade data and the ISM PMI report for further insight into the economic outlook.
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