Treasury yields rose on Thursday as traders assessed the U.S. reaching a trade deal with the United Kingdom along with the Federal Reserve's latest policy decision.
The yield was more than 3 basis points higher at 4.31%. The yield also gained 3 basis points to trade at 3.826%.
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WATCH HEREOne basis point is equal to 0.01% and yields and prices move in opposite directions.
"The agreement with the United Kingdom is a full and comprehensive one that will cement the relationship between the United States and the United Kingdom for many years to come," President Donald Trump said in a Truth Social post. He had teased the announcement in previous posts.
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SIGN UP This makes the the UK the first country to finalize a tariff agreement. Trump also said a news conference will be held at 10 a.m. ET at the Oval Office.
"Given that full trade deals take years to negotiate, this will likely be a framework and it will be interesting to see whether the 10% baseline tariff stays as that will provide an important template for negotiations with other countries and a good guide to the long-term tariff strategy of the US," Deutsche Bank analysts said in a note.
Investors are also digesting the on Wednesday, with the central bank holding the benchmark overnight borrowing rate in a range of 4.25% to 4.5%, where it has been since December. It was a widely expected move.
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Fed Chairman Jerome Powell noted in a post-meeting news conference that President Donald Trump's tariffs will delay the central bank's timeline for achieving its goals.
"What looks likely — given the scope and scale of the tariffs — is that we will see certainly the risks to higher inflation, higher unemployment have increased. And if that's what we do see — if the tariffs are ultimately put in place at those levels, which we don't know — then we won't see further progress toward our goals," he said. "We might see a delay in that."
