Overview

• The US bond market experienced a sharp sell-off, with 10-year Treasury yields surging to 4.53%, marking the highest level since February 2025.
• The US dollar weakened instead of strengthening, challenging its traditional role as a global safe haven during economic uncertainty.
• China retaliated against President Trump’s tariffs by imposing an 84% levy on US goods, escalating global trade tensions.
• Investors are increasingly turning to alternatives such as German government bonds and gold, signaling declining confidence in US assets.
• Analysts warn that the tariff-induced disruptions could permanently undermine the perception of US bonds and the dollar as reliable safe havens.