In New York, U.S. Treasuries, which are seen as a crucial component of the global financial system, experienced increased selling pressure on Wednesday as investors opted to move away from safe assets after the U.S. announced substantial trade tariffs that disrupted markets.

MARKET RESPONSE:

TREASURIES: Yields of U.S. Treasury benchmarks reduced following a $39 billion 10-year notes auction on Wednesday, indicating strong demand. This auction occurred amidst a bond market frenzy triggered by the tariffs, leading to forced selling and a scramble for liquidity.

OPINIONS:

JAMIE COX, MANAGING PARTNER, HARRIS FINANCIAL GROUP, RICHMOND VA

"The auction conducted today was highly successful, alleviating concerns of potential systemic risks in the system."

JEFFREY PALMA, HEAD OF MULTI-ASSET SOLUTIONS AND MACRO RESEARCH, COHEN & STEERS, NEW YORK

"The performance of the 10-year Treasury auction exceeded expectations, especially given the recent weakness in the bond market. This positive outcome provides a short-term boost to market sentiment. However, uncertainties regarding the long-term effects of tariffs on economic growth persist. Nonetheless, this is a brief moment of relief in a challenging environment."

VAIL HARTMAN, ANALYST ON U.S. RATES STRATEGY TEAM, BMO CAPITAL MARKETS

"The strength of today's 10-year auction was notable... Ahead of the auction, 10-year notes faced pressure, with yields close to the day's peak of 4.51% and rates up by around 17 basis points by 1 pm EST. Following the auction results, Treasuries experienced a rally."

(Compiled by the Global Finance & Markets Breaking News team; Editing by Lananh Nguyen.)