Trump Says Market Rout Didn’t Influence 90-Day Tariff Pause – ‘Bond Market Was Getting The Yips, I Wasn’t’

U.S. President Donald Trump reportedly said that he was not worried about the rout in the bond market in early April and that it did not influence his decision to grant a 90-day pause on tariffs with U.S. trading partners.

“I wasn’t worried,” he told Time Magazine in an interview. “No, it wasn’t for that reason. I'm doing that until we come up with the numbers that I want to come up with. I've met with a lot of countries. I've talked on the telephone. I don’t even want them to come in.”

Following Trump’s tariff imposition, treasury yields initially declined but later experienced a sharp spike. According to a CNBC report, the 10-year yield surged more than 50 basis points in one of the fastest moves ever.

Trump elaborated that although the bond market was nervous, he had a clear vision of what had to be done.

“The bond market was getting the yips, but I wasn’t. Because I know what we have. I know what we have, but I also know we won't have it for long if we allowed four more years of the gross incompetence. This thing was just running—it was running as a free spirit. This was—this was the most incompetent president in history,” he stated.

Equity markets traded marginally in the red on Friday, with the SPDR S&P 500 ETF Trust (SPY), which tracks the S&P 500, down 0.18% and the Invesco QQQ Trust, Series 1 (QQQ), which tracks the Nasdaq Composite, down 0.14%.

At the same time, the iShares 7-10 Year Treasury Bond ETF (IEF) traded 0.25% higher on Friday morning.

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