Treasury yields fell on Thursday as traders responded to developments in U.S.-China trade relations and President Trump’s decision not to fire Federal Reserve Chairman Jerome Powell.
The 10-year yield dropped over 6 basis points to 4.323%, while the 2-year yield fell 5 basis points to 3.813%. Despite Trump and Treasury Secretary Bessent indicating potential for easing trade tensions with China, Chinese officials stated they would not discuss tariffs until the U.S. removes existing measures.
Meanwhile, durable goods orders surged 9.2% in March, far exceeding expectations, though markets showed little reaction.