The Bond Market Is Forcing a Reckoning Trump Isn’t Able to Stop

Bond markets haven’t been swayed by President Donald Trump’s latest assurances on the war with Iran, with yields holding stubbornly higher and G-7 finance ministers continuing to discuss the impact of a surge in rates during the second day of their meeting in Paris. The U.S. president said Monday he had called off military strikes on Iran that were slated for Tuesday amid “serious negotiations” that he claimed had “a very good chance” of establishing an agreement between Washington and Tehran. What the president hasn’t been able to do, however, is address the worrying rise in Treasury bond yields, which remain elevated heading into the Tuesday session.