Trump criticizes Powell triggering market reaction, US Treasury prices fall.

The prices of US Treasuries are falling as the market reacts to President Trump's recent criticism of Federal Reserve Chairman Powell. On Thursday, yields on US Treasuries of various maturities rose slightly, with the 10-year Treasury yield rising 1 basis point to 4.47% and the 30-year Treasury yield remaining above 5%. The global economic and cross-asset research director at Societe Generale stated, "The most core asset of any central bank is its credibility. If credibility is lost due to dismissal, the market will react strongly negatively. Speculation about alternative candidates will only further exacerbate volatility in US asset prices and weaken the trajectory of the US dollar."