The yield on the 10-year US Treasury note edged up to 4.28% on Friday after Fed Chair Jerome Powell reassured markets that the economy remains solid while emphasizing no urgency to cut rates. However, the yield remained near the four-month low of 4.16% touched on Monday, as uncertainty over US trade policy fueled concerns about economic growth and extended Wall Street's shift toward safer assets. President Trump granted a one-month exemption for Mexican and Canadian goods under the USMCA from new tariffs but vowed to end further relief. Meanwhile, pledges of aggressive spending cuts and conflicting policy signals from the administration kept demand for Treasuries elevated. The latest jobs report showed nonfarm payrolls increased by just over 150K in February, slightly below expectations, while the unemployment rate ticked higher. Additionally, the impact of deep government spending cuts by DOGE has yet to be reflected in the data, leaving uncertainty over the labor market's trajectory.

Source: Trading Economi