They say that the interest rates rose due to Trump's large fiscal stimulus, but it's too much movement based on just one factor. Considering the Federal Reserve's attempt to cut interest rates, Trump is completely in the way, so wouldn't they significantly cut rates before Trump really takes action? After all, with a 0.5 point rate cut, the bond market hasn't lowered yields at all. In addition, the Federal Reserve must be worried about the deteriorating job market.