Former U.S. Treasury Secretary Yellen: Trump's policies have weakened trust in the United States and dollar assets.

On April 15, former U.S. Treasury Secretary Janet Yellen said on Monday that she was concerned that President Trump's tariffs and other policies were eroding allies' trust in U.S. commitments, and some investors began to shy away from U.S. assets. Yellen told the media that last week's surge in Treasury yields was a cause for concern, raising questions about the safety of "the cornerstone of the global financial system – Treasury bonds," given Treasuries' status as traditional safe-haven assets. Yellen said she was pleased to see good results from last week's 10-year and 30-year Treasury auctions, but she did not recommend switching to issuing more short-term bonds to counter the rise in long-term Treasury yields. She added that it is important to issue bonds regularly and predictably to meet market demand. "So, I don't think it's a smart financing strategy to turn to short-term bond issuance just because you're uncomfortable with rising long-term interest rates," she said.