The U.S. has long been considered a financial safe haven. The sell-off of the dollar, stocks and Treasury bonds in a spree sparked by panic at President Donald Trump's trade war is starting to raise questions about if that's still true.
U.S. equities and the greenback have been under pressure for weeks. This week, the volatility spread to the U.S. Treasury market, long considered by global investors to be a refuge.
On Wednesday morning before Trump announced he was pausing many of his most onerous tariffs for 90 days, yields on both the 10-year and 30-year U.S. Treasury bonds spiked suddenly.
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