Worst stock meltdown since Covid deepens as recession odds soar
The growing fears about the outlook for the global economy extended far beyond stocks. Oil tumbled on speculation demand will slow.
Tax
Execs discuss tariffs’ expected impact on housing market
The impact of tariff policy on the mortgage-backed securities market is likely to surface first in the cost of new housing construction.
Bessent signals U.S. on debt-limit ‘warning track’ for May or June
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.
U.S. Consumer spending barely rises, key inflation gauge picks up
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.
Five-year Treasuries are the go-to for Wall Street’s risk-averse
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.
U.S. fiscal strength seen weakening further, Moody’s says
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.
Fed holds rates steady, sees slower growth and higher inflation
Chair Jerome Powell repeated the central bank is not in a hurry to adjust borrowing costs. Officials can wait for greater clarity on the impact of policies.
Powell’s remarks to be scrutinized as Fed set to hold rates steady
Fresh tariffs from the Trump administration, paired with retaliatory action from US trade partners, have fanned Americans' expectations for future inflation.
Summers sees near 50-50 chance of a recession this year
Summers said a combination of major immigration restrictions, federal government layoffs and damage to US competitiveness from President Donald Trump's tariffs.
PVOne raises $53 million in tax lien ABS
Tax liens have so-called super priority in repayments, even placing ahead of a previously filed mortgage.
Trump says he may hit Canada with dairy, lumber tariffs soon
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.
Bessent highlights Trump’s Fed silence, rejects inflation worry
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.
Robert Rubin blames Trump for most uncertainty in 60-year career
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.
Treasury yields fall to multi-month lows with U.S. growth in doubt
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.
Bessent, Republicans in Congress kick start tax cut talks
The confabs are a sign that Republicans are getting serious about negotiating the contours of a tax deal, even as the House and Senate are pursuing separate strategies.
Fannie Mae cuts mortgage forecast as uncertainty persists
The potential impacts of import tariffs cloud the outlook, though, and could lead mortgage rates to surge and fall throughout the coming year.
Bessent calms markets by leaving U.S. dollar, debt plans intact
The U.S. currency has surged sharply against its major peers since Trump's election on speculation that his tax-cut and tariff plans would fan inflation pressures.
Trump policy ‘chaos’ threatens dollar as reserve currency
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.
Why some bond traders bet relentless selloff will soon lose steam
Wednesday brings the next pivotal data point, with the release of the latest consumer-price figures, which are forecast to show inflation remains sticky.
Treasuries slip as Trump’s tariff threats dim the Bessent effect
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.
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