If you are trying to figure out whether now is the time to buy bonds, watch the White House more than the Federal Reserve. The benchmark 10-year Treasury yield has been rising toward 5%, Fed interest-rate cuts be damned.

Officials said the decision to halt loans and grants was necessary to ensure spending complies with recent executive orders.

The White House budget office Wednesday rescinded the federal aid freeze, according to multiple media reports citing an administration memo.

Staffers would be paid for eight months if they resign rather than return to the office full time.

President Donald Trump’s budget office has rescinded a memo freezing spending on federal grants, less than two days after it sparked widespread confusion and legal challenges across the country

The Trump administration on Wednesday rescinded a sweeping directive to pause federal loans, grants and other financial assistance, a White House official said, just shortly before it was set to appear in court for a second straight day to defend the policy.