The yield on the US 10-year Treasury note held steady around 4.39% on Thursday, following gains in the previous session, as concerns over Federal Reserve leadership eased. Treasury Secretary Scott Bessent reassured markets that Fed Chair Jerome Powell does not need to resign, despite ongoing criticism from President Donald Trump over his handling of monetary policy. Attention now turns to the Fed’s policy meeting next week, where rates are widely expected to remain unchanged amid lingering uncertainty around global tariffs. Meanwhile, demand for safe-haven assets eased as sentiment improved on signs of trade progress. The US and EU are reportedly advancing talks on a deal that includes a 15% baseline tariff on EU goods with potential exemptions. Bessent also indicated that the US-China tariff truce is likely to be extended ahead of its August 12 expiration.
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