According to BlockBeats, the U.S. 10-year Treasury yield increased by 6 basis points following remarks by U.S. Treasury Secretary Besant. Besant stated that the 90-day pause proposed on April 2 was based on sincere negotiations, but U.S. President Donald Trump found the EU's proposal lacking in quality, hoping this move would motivate the EU to take action.
The market turned downward after Trump announced a 50% tariff on the EU and a 25% tariff on Apple. Besant, appearing on Fox News, heavily promoted the trade 'agreement,' seemingly unaware that the tariffs were intended to lower U.S. bond yields. Besant's comments counteracted Trump's desired yield decrease. Meanwhile, the S&P 500 index has fallen 200 points from its peak, and the headlines about the 'trade agreement' have not helped reduce bond yields.