FX.co ★ US 10-Year Yield Eases

The yield on the US 10-year Treasury note fell to around 4.04% on Thursday, paring gains from the previous session as uncertainty over US tariff policy boosted demand for safe-haven government debt. On Wednesday, US Trade Representative Jamieson Greer signaled that tariff rates for certain countries could be raised to 15% or higher from the recently imposed 10%, without offering further specifics. President Donald Trump struck a relatively muted tone on tariffs in his State of the Union address but reiterated that he does not intend to change course, despite the Supreme Court’s decision to strike down his broad reciprocal tariff measures. On the monetary policy front, the Federal Reserve is widely expected to leave interest rates unchanged at its meeting next month. Meanwhile, US and Iranian negotiators are set to begin the latest round of nuclear talks in Geneva later today, contributing to a cautious mood across financial markets.