BlockBeats News, May 23rd. According to The Kobeissi Letter analysis, following Treasury Secretary Benson's statement that the "90-day halt proposed on April 2 was based on sincere negotiations, Trump believed the EU's proposal was of low quality and hoped that by doing so, it would encourage the EU to take action," the US 10-year Treasury yield rose by 6 basis points.
As the market turned bearish after Trump announced a 50% tariff on the EU and a 25% tariff on Apple, Benson took to Fox News to vigorously promote the trade "agreement." It seems he may not have received the memo that the tariff announcement was meant to lower the US bond yield, as Benson has just offset the rate reduction that Trump desired. However, the S&P 500 index has now dropped 200 points from its high, and the headline news of the "trade agreement" has not helped lower the US bond yield.
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