U.S. Treasury yields: Trump extends tariff deadline
The U.S. 10-year Treasury yield rose Monday as investors monitored trade tensions amid an extension of the 90-day tariff reprieve deadline and as U.S. President Donald Trump threatened more tariffs.
The benchmark 10-year yield was up 5 basis points to 4.387%. The 30-year bond yield was up 6 basis points to 4.918%. The 2-year Treasury yield added 2 basis points to 3.897%.
One basis point is equal to 0.01%. Yields and prices move in opposite directions.
Investors have been monitoring the approaching deadline for Trump's 90-day tariff reprieve on most countries, with tariffs expected to revert to April 2 levels on this week.
Treasury Secretary Scott Bessent said Monday on CNBC's "Squawk Box" that there would be several trade announcements over the next 48 hours, adding that he expects "it's going to be a busy couple of days." However, Bessent did not specify which countries would be involved.
More tariff drama developed on Sunday as Trump threatened additional 10% tariffs on nations that align themselves with the "Anti-American policies of BRICS."
BRICS' members — which include Brazil, Russia, India and China — are meeting in Rio de Janeiro, Brazil.
President Donald Trump and Commerce Secretary Howard Lutnick clarified to reporters on Sunday that reciprocal tariffs will return to original levels on Aug. 1, for countries without a deal already.
"Tariffs go into effect Aug. 1. But the president is setting the rates, and the deals, right now," Lutnick said.
The bloc's leaders criticized Trump's tariff policies in a joint statement on Sunday, warning against "unjustified unilateral protectionist measures, including the indiscriminate increase of reciprocal tariffs."