Treasury yields retreated on Friday after President Donald Trump ramped up trade tensions with Europe.
The 30-year Treasury yield was down 3 basis point at 5.031%. The 10-year Treasury shed 4 basis points to 4.509%. The 2-year yield was less than 1 basis point lower to 3.993%.
Stream NBC4 newscasts for free right here, right now.
WATCH HEREOne basis point is equivalent to 0.01%, and yields move inversely to prices.
In a Truth Social post, Trump recommended "straight 50% Tariff on the European Union" after griping that negotiations with the bloc had stalled. He said the European Union "has been very difficult to deal with," adding that talks were going "nowhere."
We have the news you need to know to start your day. Sign up for the First & 4Most morning newsletter — delivered to your inbox daily.
SIGN UP Trump also said in a separate post that Apple must pay a 25% tariff on iPhones made outside the U.S., sending the stock tumbling and leaving traders looking for safety in bonds.
"Capitalism works best when it is left alone as businesses and consumers are left free to trade goods and services at prices agreed upon by both sides as it is a highly competitive world out there. Unfortunately we keep straying from that basic economic concept with a muscled top-down approach," wrote Peter Boockvar, chief investment officer at Bleakley Financial Group.
Friday's moves come after a wild week for bonds.
Money Report
Treasurys initially sold off this week on concerns that Trump's budget bill would worsen the U.S. deficit. The 30-year Treasury bond yield reached levels not seen since 2023, breaking above 5.1%. The 10-year yield also traded above 4.5% before easing.
Those fears came after Moody's downgraded the U.S.' credit rating late last week, citing the growing budget deficit and the cost of funding the existing debt.
