This past week has been strong for the U.S. Dollar Index DXY — its best since October 2022, in fact. It’s a far cry from the first half of this year, when the index lost almost 11% — the worst first-half return on record since the index was created in the early 1970s.

The yield on the 10-year hit a 52-week high of 4.896% on January 13, a week before Trump's second inauguration, and traded as low as 3.860% on April 4 before spiking to 4.607% on May 21, then settling at 4.431% on July 18.

President Donald Trump ’s latest tariff moves drew worries from Wall Street as stocks slumped Friday and Treasury yields fell sharply. Trump signed an order the previous night imposing steep tariffs on 66 countries,