Trump returns to the White House

U.S. Treasury yields were lower on Tuesday as investors digested President Donald Trump’s return to the White House and a series of new executive orders.

At 6:28 a.m. ET, the 10-year Treasury yield was more than 2 basis points lower at 4.587%. THE 2-year Treasury yield was down slightly to 4.27%.

One basis point is 0.01% and yields and prices move in opposite directions.

Bond markets were closed Monday in observance of Martin Luther King Jr. Day. Investors closely followed Trump’s inauguration as the 47th president of the United States on Monday.

After his inauguration in the capital, Trump signed more than 40 executive orders at Capital One Arena before an audience of 20,000 supporters.

Trump also made comments about tariffs as he signed executive orders, saying he planned to impose 25% tariffs on Mexico and Canada starting in February due to their border policies. He also mentioned China, saying the country would be hit with intensified tariffs if it did not approve a TikTok deal.

However, Trump said he was not yet ready to impose universal tariffs. Investors will be on alert to see if Trump implements some of the business-friendly policies he promised throughout his campaign.

Some housing data will be released this week. The 30-year MBA mortgage rate is due Wednesday and weekly jobless claims are released Thursday.

On Friday, investors will await the S&P Global Composite PMI Flash and the release of existing home sales data.