US Treasuries fell as investors shifted towards riskier assets amid reports that President Donald Trump’s upcoming tariffs will be more targeted than expected. The 10-year yield rose by 7 basis points to 4.32%, while major US stocks surged over 1%. This comes after the manufacturing sector contracted in March, according to the US Purchasing Managers’ Index, but the service industry experienced accelerated growth. Trump’s proposed tariffs may provide some relief for investors, suggesting they favor more targeted trade policies over broad, sweeping measures.
Source: https://www.bloomberg.com/news/articles/2025-03-24/us-treasuries-fall-on-signs-that-trump-will-dilute-april-tariffs