Hopes that the US will reach other trade deals ahead of its self-imposed Aug 1 deadline are mounting. Secretary of the Treasury Scott Bessent sounded positive on the prospect in an interview on Bloomberg TV, saying talks with the EU are going better and negotiations are back on track with China. Secretary of Commerce Howard Lutnick said that Japan’s pledge of hundreds of billions in US investments “could be” a model for the EU.
Treasuries were poised to snap five days of gains Wednesday as demand for havens waned after the US inked a trade deal with Japan.
The yield on US 10-year debt was two basis points higher at 4.36% Wednesday morning in New York, halting a week-long slide. Germany’s benchmark borrowing costs rose one basis point to 2.60% while UK equivalents were up four basis points at 4.61%.
