Wednesday's News Links

[CNBC] Dow futures tumble as China hits back at Trump’s tariffs: Live updates

[Bloomberg] Treasuries Selloff Ramps Up as Investors Spurn US Long-End Bonds

[AP] Asian shares deepen losses after another Wall St retreat as tariffs due to take effect

[Reuters] Gold gains ground as dollar wavers on tariff jitters

[Yahoo/Bloomberg] European Stocks Sink as China Hits Back With 84% Tariffs on US

[Yahoo/Bloomberg] BOE Warns Risk of ‘Further Sharp Corrections’ in Markets Is High

[Yahoo/Reuters] Oil slides nearly 4% as US kicks off 104% tariffs on China

[Yahoo/Reuters] Yuan falls to 2007 lows as US tariffs on China kick in

[AP] Live updates: China raises retaliatory tariff on the US to 84%

[Yahoo/Reuters] China adds US companies to lists for export control, unreliable entities

[Politico] EU slaps tariffs on US trucks, cigarettes and ice cream to target Trump’s red states

[Axios] Treasury's Bessent says economy "in pretty good shape" amid market rout

[Axios] China launches massive tariff retaliation on U.S. goods

[CNBC] Trump’s new reciprocal tariffs take effect on imports from around the world

[Yahoo/Reuters] Trump says US will soon announce tariffs on pharmaceutical imports

[Investing.com] Is China dumping US treasuries?

[Axios] Scoop: A dozen House Republicans mull defying Trump on tariff bill

[Yahoo/Reuters] Trump says he told TSMC it would pay 100% tax if it doesn't build in US

[Politico] Trump tariff war puts UK financial stability at risk, Bank of England warns

[Reuters] US 10-year yield won't dance to Bessent's tune: McGeever

[Yahoo/Reuters] Analysis-Individual investors flood advisers with calls, but stay in the market

[AP] Beijing rejects Ukraine’s claim significant numbers of Chinese troops are fighting alongside Russia

[Bloomberg] China Raises Tariffs on US Goods to 84% as Trade Rift Worsens

[Bloomberg] Trump-Xi Standoff Upends Global Trade With Neither Side Budging

[Bloomberg] Bessent Sees ‘Normal Deleveraging’ in Bonds, Warns China on Yuan

[Bloomberg] The Many Reasons US Bonds Are Falling Despite Haven Status

[Bloomberg] Brutal Week Sees Junk Debt Refinancing Costs Double in 2025

[Bloomberg] UK Borrowing Costs Hit Highest Since 1998 Amid Global Bond Rout

[Bloomberg] Treasuries Selloff Sends Long-Term Yields Soaring Worldwide

[Bloomberg] Trump Tariffs Take Effect Hiking Trade Levies to a 100-Year High

[Bloomberg] A Severe Test Lies Ahead for the Federal Reserve

[Bloomberg] Shadow Banks Are Too Big to Stay in the Shadows

[Bloomberg] China Drives Record Gold ETF Inflows as Trade War Deepens

[Bloomberg] Tech Risks Pile Up as ‘Treacherous’ Antitrust Looms Over Stocks

[Bloomberg] US Raises Charges on Small Parcels, Targeting Chinese Retailers

[Bloomberg] Vance’s ‘Chinese Peasants’ Remarks Get Sharp Rebuke From Beijing

[Bloomberg] US Chaos Is Catnip for Wannabe Autocrats Around the World

[NYT] U.S. Bond Sell-Off is Another Worrisome Echo of the Liz Truss Fiasco

[NYT] China Condemns American ‘Protectionism’

[NYT] ‘Explosive’ Markets Raise Uncertainty About Tariff Endgame

[NYT] ‘Totally Silly.’ Trump’s Focus on Trade Deficit Bewilders Economists.

[WSJ] China Has Readied a Trade-War Arsenal That Takes Aim at U.S. Companies

[WSJ] U.S.-China Brawl Takes Center Stage in Global Trade War

[WSJ] Trump’s Tariffs Put Fed Chair Powell in a ‘No-Win Situation’

[WSJ] A Step-by-Step Look at How Trump’s New Tariffs Will Be Implemented

[WSJ] China Looks to Forge Closer Trade Ties With Neighbors

[WSJ] Student Visas Are Being Revoked Without Reason or Warning, Colleges Say

[FT] US Treasuries sell-off deepens as ‘safe haven’ status challenged

[FT] Top ECB policymaker warns ‘worst-case scenarios’ are materialising

[FT] Donald Trump defies market tumult and pushes ahead with trade war

[FT] The American deal machine is sputtering

Tuesday Evening Links

[CNBC] Stock futures fall as tariff fears cause a four-day S&P 500 rout of 12%: Live updates

[Yahoo/Bloomberg] Stocks Hit by Wild Volatility on US-China Threats: Markets Wrap

[Yahoo/Bloomberg] Oil Slumps Below $60 as US Plan for China Tariffs Roils Outlook

[Yahoo/Bloomberg] Xi’s No. 2 Says China Is Equipped to Fight Trump’s Tariff Hikes

[AP] White House keeps world guessing as clock ticks down to Trump’s new tariffs

[BBC] What would a US-China trade war do to the world economy?

[AP] Trump’s latest round of tariffs are poised to go into effect. Here’s what we know

[Axios] Consumer sentiment plunged on Monday amid tariff chaos

[AP] Trump fails to sway many House GOP holdouts as his ‘big’ bill of tax breaks and spending cuts stalls

[Yahoo/Reuters] Trump says US taking in $2 billion a day from tariffs

[Yahoo/Bloomberg] Fed's Daly sees time to tread slowly, carefully on policy

[CNBC] Mortgage rates slingshot higher as tariff uncertainty roils markets

[Politico] EU seeks China’s help to contain Trump’s trade war

[CNBC] Judge says White House can’t ban AP from Oval Office, Air Force One

[Axios] "Boys will be boys," White House says, as Musk calls Navarro "moron"

[Bloomberg] Treasury-Yield Surge Stokes Fear of Next Big Basis-Trade Unwind

[Bloomberg] Muni Sales Delayed as Yields Surge 58 Basis Points in Two Days

[Bloomberg] Tariffs Turbocharge Collapse of Favored Hedge-Fund Rates Bet

[Bloomberg] Cracks Are Forming in CLO Market as ETFs on Record Selling Spree

[Bloomberg] Tariffs Leave Central Banks Out in the Cold

[Bloomberg] Republicans Fracture Over How Much Debt to Run Up for Tax Cuts

[Bloomberg] US Tariffs Are Making China Great Again

[NYT] Wall Street Bursts With Anger Over Tariff ‘Stupidity’

[WSJ] Stocks Are in Turmoil, but Treasury Yields Are Stubbornly High

[WSJ] The Dip-Buyers Braving the Market During Stocks Carnage

[WSJ] Why Musk vs. Navarro Matters

[FT] Quant hedge fund Renaissance suffers steep losses in tariff tumult

[FT] US Treasuries drop for second straight day after disappointing $58bn auction

[FT] Avoiding Kindleberger’s Trap

Tuesday Afternoon Links

[Yahoo/Bloomberg] Stock Rally Eases With Trade-Deal Hopes in Focus: Markets Wrap

[Yahoo/Bloomberg] Crude Oil Fluctuates as Traders Take Stock of Growth Outlook

[Yahoo/Reuters] Analysis-How Trump's policy risk is showing in Treasury bonds

[Yahoo/Bloomberg] US Tariff Revenue Gains Seen as Undercut by Declining Trade

[Yahoo/Reuters] Fed's Goolsbee: 'way bigger' than expected tariffs pose inflation risks

[Yahoo/Reuters] Gold ETFs drew largest inflow in three years in Q1, says WGC

[Bloomberg] Summers Warns US Likely Headed to Recession, 2 Million Jobless

[Bloomberg] JPMorgan Sees More Pain Ahead for Junk and Private Lender Bonds

[Bloomberg] ‘My Bad’: Bill Ackman Lays Bare Wall Street’s Big Fail on Trump

[FT] Donald Trump to proceed with extra 50% tariff on China as trade war escalates

[FT] The Treasury basis trade rears its head again

[FT] Investors lose $25bn in leveraged ETFs in sector’s biggest meltdown

[FT] Trump’s tariffs will damage the world