U.S. Treasury yields were little changed to start the week as investors weighed President Donald Trump’s latest tariffs, after the Supreme Court struck down much of the duties on Friday.
At 3:47 a.m. ET, the 10-year Treasury yield was down less than 1 basis point to 4.076%. The 30-year Treasury bond yield was also less than 1 basis point lower to 4.72%. The 2-year Treasury note yield was also nearly flat at 3.47%.
One basis point is equal to 0.01%, and yields and prices move in opposite directions.
On Friday, the Supreme Court invalidated a huge portion of Trump’s “reciprocal” tariffs in a 6-3 ruling, in which they said that the president wrongfully used the International Emergency Economic Powers Act (IEEPA) to enforce tariffs. They said that the law that underpins the import duties “does not authorize the President to impose tariffs.”
Despite this, Trump retaliated Saturday and said he’s raising global tariffs to 15% from 10%, saying it would be “effective immediately,” and additional levies would follow. Investors are monitoring the latest tariff situation closely.
“I, as President of the United States of America, will be, effective immediately, raising the 10% Worldwide Tariff on Countries, many of which have been “ripping” the U.S. off for decades, without retribution (until I came along!), to the fully allowed, and legally tested, 15% level,” Trump wrote in a post on Truth Social.
Investors are also awaiting some economic data on Monday, including durable goods orders and factory orders in the morning, and are looking ahead to the release of the producer price index on Friday.
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