U.S. government borrowing costs on longer-maturity debt have risen more quickly than on shorter-maturity debt since so-called reciprocal tariffs were announced. We discuss what drove that reaction and why the difference is likely to persist.
President Donald Trump unveiled his long-threatened reciprocal tariffs, putting an exclamation point on a new era of protectionism. Our regional analysts review the tariff policies and provide thoughts on the implications for markets.