Treasury yields soar as U.S. and China agree to slash tariffs

U.S. Treasury yields moved higher on Monday after the U.S. and China agreed to slash tariffs on each other’s goods, in a move welcomed by investors.
U.S. Treasury yields moved higher on Monday after the U.S. and China agreed to slash tariffs on each other’s goods, in a move welcomed by investors.
At 5:09 a.m. ET, the 10-year Treasury yield was up nearly 6 basis points to 4.433%, while the 2-year Treasury yield jumped 10 basis points to 3.996%
One basis point is equal to 0.01% and yields and prices move in opposite directions.The U.S. and China negotiated a trade deal to lower tariffs, with both countries announcing on Monday the suspension of most levies implemented on each other’s imports.
Tariffs between both countries will come down from 125% to 10%, according to the terms of the deal. The U.S.′ 20% duties on Chinese imports relating to fentanyl are still in place, bringing total tariffs on China to 30% currently.
Previously U.S. tariffs on China stood at 145%, while China implemented 125% levies on U.S. goods.
https://www.nbcnews.com/world/asia/treasury-yields-soar-us-china-agree-slash-tariffs-rcna206203
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