WILL THERE BE SOME TARIFF CLARITY AFTER 4:00 P.M.?
There is intense volatility within a narrow range in the bond market. Last week, long dated yields were around the highest level since mid-February. Today they are around the lowest since early March. Additionally, the market is now discounting 76 bps of easing. Last week it was less than 45 bps. Are tariffs inflationary? Or … Read more