JPMorgan Asset Management stated that US Treasury bonds may have already hit bottom due to signs of strong foreign demand and market expectations that the Federal Reserve will support US government debt when necessary. Bob Michele, global head of fixed income at the company, said, "I feel good, we are investing here at low prices and high yields." "In our conversations with overseas investors, they are not scared off by US Treasury bonds." Previously, US Treasury bonds experienced their largest drop since 2001, as Trump's tariffs and unpredictable policy-making weakened demand for long-term safe-haven assets. Michele cited Federal Reserve data showing that foreign central banks and reserve management agencies have recently increased their holdings of US Treasury bonds. He also pointed out that Federal Reserve's Collins recently commented that if the situation becomes chaotic, the Federal Reserve is "absolutely ready" to help stabilize financial markets.