The yield curve of U.S. Treasury bonds is steepening, and there are reports that Trump will dismiss Powell.

On Wednesday, the yield on US Treasury bonds closed with mixed changes, and the yield curve showed a significant steepening. There were earlier indications later denied that the US President Trump was preparing to dismiss Federal Reserve Chairman Powell and replace him with someone who would cut interest rates sooner. Initially, there were reports that Trump had shown a draft letter to dismiss Powell, but he later claimed the report was false. This caused severe market fluctuations, but the short-term yield still retained most of its 8 basis point decline, while the long-term yield despite initially soaring after the initial reports ultimately remained relatively unchanged.