Thursday Afternoon Links

[CNBC] Dow rises 200 points to kick off May as Microsoft, Meta rekindle AI trade: Live updates 

[Yahoo/Bloomberg] Yen Slides as Bank of Japan Pours Cold Water on Rate Hikes

[Axios] Manufacturing sector shrinks again in April as tariffs hit businesses

[Yahoo/Bloomberg] SALT talks stall as GOP mulls limiting tax break to middle class

[Yahoo/Reuters] US construction spending falls in March

[Yahoo Finance] Mortgage rates drop as bond market stabilizes

[Bloomberg] US Bonds Slide as Factory Data Spurs Pullback in Rate-Cut Bets

[Bloomberg] Summers Says Wrong to Say Markets Tell Fed It Should Cut

[Bloomberg] Large AI Projects Present $1.8 Trillion Capital Pool for Private Credit

[Bloomberg] High-Yield Munis Post Worst Month Since 2023 After Tariff Rout

[Bloomberg] Schwab Warned Thousands at Risk of Margin Calls as Volatility Soared on Trade War

[Bloomberg] How Houthi Red Sea Ship Attacks Upended Global Trade

[NYT] A Tidal Wave of Change Is Headed for the U.S. Economy

[WSJ] Why China Could Win Trump’s Trade War