Calm in bonds suggests it’s time to pencil in stocks you like — but wait for market-moving headlines from Washington.

Some economic forces are impossible to ignore. That seems to be developing between the Trump White House and the bond market, which is indicating that it is displeased.

U.S. Treasury Secretary Scott Bessent's pledge to contain yields on 10-year Treasury notes met some skepticism in the bond market on Thursday, as inflationary pressures and expectations of a widening federal deficit threaten to outweigh efforts to curb borrowing costs.

To US Treasury Secretary Scott Bessent, the yield on 10-year government debt is the key gauge for President Donald Trump’s goal of getting lower interest rates.

President Trump’s trade-war tactics have been tough for investors to parse, especially as stocks zigzagged to start the week amid mixed messages from the bond market.