Treasury Department

Treasury selloff is more about the Fed than the trade deal

Treasury Department logo outside of the building
Photo: Alastair Pike/AFP/Getty Images

The U.S. bond market was closed on Monday to commemorate Veterans Day, pausing a massive selloff in U.S. Treasuries that has taken yields on the benchmark 10-year Treasury note to their highest level since the start of August.

Why it matters: The Treasury market has provided a more accurate reflection of U.S. economic data so far this year, and rising yields show safe-haven bonds are losing their appeal.

Pam Bondi and Tony Sayegh to join White House to assist impeachment strategy

Bondi and Sayegh.
Tony Sayegh. Photo: Juan Mabromata/AFP via Getty Images; Pam Bondi. Photo: Riccardo Savi/Getty Images for Concordia Summit

Former Florida Attorney General Pam Bondi and former Treasury spokesperson Tony Sayegh are expected to join the White House communications team to help with President Trump's impeachment strategy, according to a senior administration official.

The big picture: Both of the officials' roles are temporary, and they will be designated as special government employees. Bondi is a longtime Trump backer, having endorsed him the day before the 2016 primary despite Florida Sen. Marco Rubio still being in the race. Sayegh helped craft a communications plan for Trump's tax overhaul in his previous role in the administration.