The yield on the 10-year Swiss government bond inched up to around 0.29%, its highest level since August 6, tracking US peers after hotter-than-expected inflation data fanned concerns about the impact of US tariffs in the coming months. This led investors to trim bets of interest rate cuts by the Federal Reserve this year. Locally, investors continued to weigh the potential harmful impact of higher US tariffs on Swiss imports. The newly imposed 39% duty is expected to significantly impact the export-reliant Swiss economy and may add pressure on the Swiss National Bank (SNB) to ease policy further. The central bank has lowered rates for six consecutive meetings and cut the cash rate to zero in June.