US yields climb as court blocks Trump tariffs, safe-haven demand fades
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U.S. Treasury yields jumped during Asian hours on Thursday after a U.S. federal court blocked President Donald Trump's "Liberation Day" tariffs from going into effect, buoying market sentiment and dimming demand for safe-haven assets. Bonds, gold, and traditional haven currencies such as the yen and Swiss franc were sold off after the little-known Manhattan-based Court of International Trade ruled on Wednesday that President Trump overstepped his authority by imposing broad duties on imports from countries with trade surpluses against the United States. Minutes later, the Trump administration filed a notice of appeal and challenged the court's authority to block the tariffs. The yield on the benchmark 10-year Treasury note gained as much as 4.4 basis points (bps) to 4.523%, and was at 4.497%, as of 0230 GMT. Two-year yields leapt as much as 6 bps to 4.052%, and 30-year yields rose about 2 bps to 4.999%. Live Events U...