The ​reaction from markets was swift and marked: Brent crude oil futures fell sharply, the dollar fell against other major currencies, stock markets rallied and government borrowing costs fell back. “It’s exactly what the market needed to hear to sort of reprice worst-case expectations. Government ​bond yields, which had risen ahead of Trump’s comments as investors doubled down on their expectations for central bank rate hikes in ⁠Europe, dropped sharply. In the US, Treasury yields were two to three basis points lower across the curve, with the 10-year ‌yield last down to 4.37 per cent. We’re ‌seeing a bit of a knee-jerk reaction to this positive news,” said Elias Haddad, global head of markets strategy at Brown Brothers Harriman.

Source: The Irish Times March 23, 2026 15:37 UTC