Recent spikes in Treasury yields, public criticism from Republican mega-donors on the tariff policy, and calls by Wall Street CEOs to the White House and the Treasury Secretary, seem to have caught the White House’s attention. Reciprocal tariffs on all countries (excluding China), and tariffs on many electronics goods have been paused. Investors are taking some comfort in the White House’s attentiveness to the Treasury market. But until the tariff issues are resolved, significant uncertainty will continue to weigh on the market.