The U.S. Treasury bond market ended its worst week in decades Friday, as President Donald Trump‘s sweeping global tariffs and subsequent pause triggered volatility across financial markets.
The 30-year bond yield posted its largest one-week gain since 1982, climbing to 4.87% after briefly topping 5%. The 10-year yield also surged, nearing 4.5%, marking its biggest weekly increase since 2001.
While stock markets recovered by week’s end, economists were more rattled by the bond market, traditionally viewed as a safe haven. Trump’s tariff plan imposed elevated rates on goods from about 60 countries, on top of a universal 10% baseline. As uncertainty grew, demand for Treasury bonds fell sharply, pushing yields higher.
Trump acknowledged market unease during his tariff pause announcement, stating “people were getting a little queasy.” Still, the bond sell-off persisted.
The jump in yields may raise borrowing costs for consumers and the U.S. government while reducing the value of other investments. The dollar also weakened amid the chaos.
Sources
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