US bond yields rise, dollar drops as the turbulent week packs

Through Caroline Valetkevitch New York (Reuters) -USteaseas yields rose to a peak of two months on Friday and returns of ten years were on track for their biggest weekly increase in decades, while the US dollar dropped as a turbulent week came to an end. US stock indices have risen by more than 1%, with bank shares rising to mostly positive earnings. The assurance of Boston Federal Reserve President Susan Collins also assured that the Fed is willing to make financial markets function if the need arises. Gold prices reached another record high after Beijing increased its rates on US imports to 125%, and he returned against US President Donald Trump’s decision to rise duties on Chinese goods. The markets have been struggling by the global trade war and the concerns about the recession since Trump announced on April 2. “Trump still dominates the headings and financial markets, especially if we end up during this period of negotiation of rates,” says Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder in New York. “There will be a lot of rumors and attitude,” he said. Investors also consumed a report showing that the US consumer sentiment deteriorated sharply in April, and another with US monthly producer prices unexpectedly dropped in March. They also looked at the results of some Big Wall Street banks, which kicked off the quarterly US reporting period. JPMorgan Chase, Morgan Stanley and Wells Fargo were one of the reports, which mostly showed that major US banks beat forecasts for the first quarter. JPMorgan shares increased by 4.6%. Ten-year Treasury yields were on track for their biggest weekly increase in more than two decades, as investors remained nervous about further liquidation of the mortgage market amid Trump’s unpredictable approach to rates. The 10 -year return was 10.3 basis points at 4.495% and reached 4.592%, the highest since February 13. Strong auctions of 10 years and 30 years of debt on Wednesday and Thursday have helped stabilize the market somewhat, but many investors remain careful to buy bonds until there is further improvement in liquidity. Earlier, the euro zone yields alleviated, and the premiums demanded by treasuries to hold US debt rather than German bundles have risen most in a week since the 1990s. With the trade war hanging over the outlook, investors will see if US businesses continue to lead during the earnings period. The Dow Jones industrial average increased by 648.65 points, or 1.64%, to 40,242,31, the S&P 500 rose 93.70 points, or 1.78%, to 5.361.75 and the NASDAQ composition rose by 312.92 points, or 1.91%, to 16.700.23. MSCI’s measure of shares around the world increased by 11.55 points, or 1.48%, to 790.82. The Pan-European Stoxx 600 index finished 0.1%. The dollar expanded losses against the Swiss franc from the previous session, which has dropped to the lowest since January 2015. At the Swiss franc, the dollar weakened 0.72% to 0.817. The dollar also hit a three -year low against the euro. Spot Gold rose 2% at $ 3,236.67 an ounce, after hitting a record high of $ 3,243.82 earlier in the session. Bullion is rising by more than 6%this week. Oil prices have climbed. Brent Ru Futures settled a $ 64.76 a barrel, $ 1.43 or 2.26%. The US Western Texas -Internmediate crude oil ends at $ 61.50 a barrel, $ 1.43 or 2.38%. (Reporting by Caroline Valetkevitch in New York and Amanda Cooper in London; Editing by Nia Williams and Rod Nickel) first published: 12 Apr 2025, 01:26 AM