US government debt rose on Monday as investors scooped up Treasuries following a rout last week driven by concerns over President Donald Trump’s tariffs.
The 10-year Treasury yield, which sets government borrowing costs and underpins pricing on financial assets worldwide, fell 0.11 percentage points on Monday to 4.38 per cent. That puts the 10-year on track to record its first day of declines in yield, which move inversely to price, since April 4.
Monday’s move came after the White House at the weekend temporarily excluded smartphones and other consumer electronics from steep “reciprocal” tariffs it introduced earlier this month.
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