10-year Treasury yield rises as Trump extends tariff deadline

The U.S. 10-year Treasury yield rose Monday as investors monitored trade tensions amid an extension of the 90-day tariff reprieve deadline and as U.S. President Donald Trump threatened more tariffs.

The benchmark 10-year yield was up 5 basis points to 4.387%. The 30-year bond yield was up nearly 7 basis points to 4.921%. The 2-year Treasury yield added 2 basis points to 3.899%.

One basis point is equal to 0.01%. Yields and prices move in opposite directions.

Imports from at least seven nations will face steep tariffs beginning Aug. 1, President Donald Trump revealed in a series of Truth Social posts on Monday. The president shared screenshots of signed form letters to the leaders of South Korea, Japan, Malaysia, Kazakhstan, South Africa, Laos and Myanmar, that dictated new tariff rates for each country.

White House press secretary Karoline Leavitt added that 14 letters will be sent on Monday, with more to be expected in the coming days. She also said that Trump will sign an executive order to delay his tariff deadline, previously anticipated to be sometime this week, until Aug. 1.

These were the first of several trade announcements Trump was expected to make. Treasury Secretary Scott Bessent said Monday on CNBC’s “Squawk Box” that there would be several trade announcements over the next 48 hours, adding that he expects “it’s going to be a busy couple of days.” However, Bessent did not specify which countries would be involved.

More tariff drama developed on Sunday as Trump threatened additional 10% tariffs on nations that align themselves with the “Anti-American policies of BRICS.”

BRICS’ members — which include Brazil, Russia, India and China — are meeting in Rio de Janeiro, Brazil.

The bloc’s leaders criticized Trump’s tariff policies in a joint statement on Sunday, warning against “unjustified unilateral protectionist measures, including the indiscriminate increase of reciprocal tariffs.”

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