Short-term Treasury yields fall, while long-term yields rise after Trump orders removal of Fed's Cook
1. Treasury yield curve steepened; short-term yields fell while long-term yields rose. 2. Trump's firing of Fed Governor Lisa Cook raised concerns about Fed's independence. 3. Investors anticipate lower short-term rates and higher long-term rates due to political actions. 4. Stronger than expected economic reports may influence Fed's rate decisions ahead. 5. Dollar declined against currencies amid shifting investor expectations on rates.