Analysis: The remarks by the US Treasury Secretary offset Trump's efforts to drop US bond yields.

On May 23, the yield on US 10-year Treasury bonds rose 6 basis points after US Treasury Secretary Bessant said that "the 90-day pause proposed on April 2 was based on good faith negotiations, and Trump believes that the EU's proposal is not of high quality and hopes that doing so will spur the EU to act". When markets turned lower on Trump's announcement of 50% tariffs on the European Union and 25% tariffs on Apple, B. Sente touted the trade "deal" on Fox News. It seems that he may not have received a memo announcing that the tariffs were aimed at lowering Treasury yields, which Bason had just offset the yield drop that Trump wanted. However, the S&P 500 is now down 200 points from its high, and the "trade deal" headlines have not helped lower Treasury yields.