The yield on the 10-year U.S. Treasury rose to 4.70%, extending its advance for a fifth consecutive session and reaching its highest level in a year. The president's latest tariff package heightened concerns about a further deterioration in trade relations between the United States and its key partners.


On the monetary policy front, rising energy prices strengthened expectations of a more hawkish stance, with markets pricing in a 34% probability of a Fed rate hike next week.
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