The yield on the 30-year U.S. Treasury bond rose by 5 basis points on Monday, reaching around 4.86%, the highest level since November 2023, as investors began to experience the potential turmoil that Trump's administration could bring to the financial markets in the coming months. The pressure from the expanding bond market has had some impact, with weak demand for the first batch of government bonds issued by the Treasury this week. Concerns that Trump's policies could drive up inflation have put pressure on U.S. Treasuries in recent weeks. After the Washington Post reported that Trump's aides were considering narrowing the scope of the tariff plan, the dollar fell on Monday, and Treasury bonds regained some ground, as the market believed this would alleviate inflation concerns. However, as Trump denied this, market trends quickly reversed. PGIM's Co-Chief Investment Officer for fixed income, Gregory Peters, stated in a television interview, 'There are a lot of bonds in the market, and the supply keeps coming. Coupled with the possibility that inflation may be stickier or may rebound, these factors are putting pressure on the bond market.'