US 10-year Treasuries have gained for the fifth day in a row as Treasury Secretary Scott Bessent offered reassurance to investors about Federal Reserve Chair Jerome Powell’s position. According to Ian Lyngen, head of US rates strategy at BMO, the market’s positive response suggests that President Trump has decided not to pursue his campaign to remove Powell. This shift in sentiment is seen as a relief for investors.
Source: https://www.bloomberg.com/news/articles/2025-07-22/treasuries-slip-with-fed-chair-powell-set-to-speak-amid-pressure