Tariffs

Federal Reserve officials want to see how exactly new trade policies impact the U.S. economy before adjusting interest rates. Markets and monetarists have different ideas about what that might look like.

JPMorgan Chase's CEO emphasized his concerns about geopolitical conflict and brought up recent culture shifts at the bank in his annual letter to shareholders.

The growing fears about the outlook for the global economy extended far beyond stocks. Oil tumbled on speculation demand will slow.

The impact of tariff policy on the mortgage-backed securities market is likely to surface first in the cost of new housing construction.

The ceiling kicked back in at the start of the year, since when the Treasury has been using special accounting maneuvers to make good on all obligations on time.

Notably in February, Americans reduced spending on services for the first time in three years in the face of higher prices — including on dining out.

Leading up to President Donald Trump's April 2 deadline on levies, the options traders prefer to own exposure to US government debt due in five years.

A rise in U.S. Treasury yields from very low levels in 2020, has resulted in diminished debt affordability, with interest payments-to-revenue hitting about 30% by 2035.

Fresh tariffs from the Trump administration, paired with retaliatory action from US trade partners, have fanned Americans' expectations for future inflation.

Summers said a combination of major immigration restrictions, federal government layoffs and damage to US competitiveness from President Donald Trump's tariffs.

American lumber producers have alleged that the Canadian lumber system amounts to a subsidy — a charge Canadians deny — and the countries have fought over tariffs on those products for decades.

He also reiterated that he and Trump are focused on bringing down 10-year Treasury yields, rather than on the Fed's short-term benchmark rate.

Rubin, who oversaw a shift to budget surpluses as Treasury chief under Democrat Bill Clinton in the 1990s after serving as co-chairman of Goldman Sachs Group Inc., said that while some federal spending can be cut, "as a practical matter" there's insufficient scope for that to rein in deficits.

The rally gained additional pace late in the session after President Donald Trump said there was no room left for a deal on Canada and Mexico tariffs ahead of their effective date Tuesday.

The potential impacts of import tariffs cloud the outlook, though, and could lead mortgage rates to surge and fall throughout the coming year.

The president's rough-and-tumble trade negotiations have throttled financial markets, causing investors to flock to the safety of dollars and Treasuries. But some economists say this style of policymaking could have hurt the U.S.'s safe haven status in the long run.

Wednesday brings the next pivotal data point, with the release of the latest consumer-price figures, which are forecast to show inflation remains sticky.

Tuesday's declines lifted yields by one to four basis points across maturities after Trump said he'd impose additional 10% tariffs on goods from China and 25% tariffs on all products from Mexico and Canada.

The global pandemic and stalled trade negotiations have discouraged farmers and ranchers from taking on more debt and made banks uneasy about extending more credit.

So far farm loans are holding up well, but bankers gathered at an industry conference this week said they are growing increasingly concerned that credit quality will weaken if the U.S. and China don’t reach a deal soon.