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Markets Rocked by New Tariff Drama
Markets Rocked by New Tariff Drama
Bonds were already having a decent day this morning with overnight market movers bringing yields in line with the lower end of the recent range. Mid-day drama caused massive selling in stocks which spilled over and made for an extension of the already-decent bond rally. The culprit? An unexpected tariff threat from Trump in response to... well... something (seriously, we're not sure). Then, just minutes before the end of trading for the 3 day weekend, an official announcement (again, with cryptic references to untoward actions by China). Bonds managed to rally a bit more as stocks sank more, but there's no telling how this will carry over on Tuesday. Tariffs haven't been reliably beneficial for bonds, but they were beneficial today.
Markets Rocked by New Tariff Drama
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Friday, Oct 10 | |||||
| 12:00AM | Roll Date - UMBS 30YR | ||||
| 9:45AM | Fed Goolsbee Speech | ||||
| 10:00AM | Oct Consumer Sentiment (ip) | Oct | 55.0 | 54.2 | 55.1 |
| 10:00AM | Oct Sentiment: 1y Inflation (%) | Oct | 4.6% | 4.7% | |
| 10:00AM | Oct Sentiment: 5y Inflation (%) | Oct | 3.7% | 3.7% | |
| 10:00AM | Oct U Mich conditions | Oct | 61.0 | 60 | 60.4 |
| 1:00PM | Fed Musalem Speech | ||||
| 2:00PM | Sep Federal budget,(on hold, shutdown) (bl) | Sep | $50.0B | $-345B | |
| Monday, Oct 13 | |||||
| 12:00AM | Indigenous Peoples’ Day | ||||
| 12:55PM | Fed Paulson Speech | ||||
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