Markets see just one rate cut coming in 2025 amid strong economic data and the potential for Trump's economic plans to stoke inflation.

Investors have shifted from thinking higher Treasury yields are an unwelcome side effect of the stronger growth promised by Trump, to worrying that higher borrowing costs might end up being very important.

The biggest story in finance is that longer-term bond yields are rising. The yield on the 10-year Treasury, at about 4.7%, is the highest since April, even though the Federal Reserve’s overnight rate is now a percentage point lower than it was then.

U.S. stock indexes are feeling pressure from better-than-expected reports on the job market and business activity.

Asian stocks are mostly lower after U.S. stock indexes finished mixed a day after strong reports on the economy stirred up worries that inflation and interest rates may remain higher than expected