Wednesday's News Links

[CNBC] Dow futures jump 700 points after Trump says he doesn’t plan to get rid of Fed chief: Live updates

[CNBC] 10-year Treasury yield dips after Trump backtracks plans to axe Fed chief

[Reuters] Oil prices down about 1% after Kazakhstan defiance on high crude output

[AP] US Treasury secretary says trade war with China is not ‘sustainable’

[Yahoo/Bloomberg] Bessent Expects Tariff Standoff With China to De-Escalate

[Yahoo/Reuters] Trump says US will set terms if China does not do a trade deal

[Yahoo/Reuters] US AI boom under threat from tariffs, global economic turmoil

[CNBC] Weekly mortgage demand plunges nearly 13%, as interest rates hit 2-month high

[Yahoo/Bloomberg] US mortgage rates rise again, reach highest since mid-February

[Axios] Trump softens tariff tone amid empty shelves warning, market slump

[BBC] Vance says US will 'walk away' unless Ukraine and Russia agree to proposals

[Axios] Trump's "final offer" for peace requires Ukraine to accept Russian occupation

[Politico] Rubio and Witkoff bail on crucial Ukraine talks amid Crimea split

[Reuters] Iran fortifying buried nuclear sites as talks with US continue, report says

[Reuters] Britain posts much bigger budget deficit for 2024/25 than expected

[Bloomberg] Trump Says He Has No Intention of Firing Fed Chief Powell

[Bloomberg] Trump Floats Cutting China Tariffs ‘Substantially’ in Trade Deal

[Bloomberg] More Americans Breathe Unhealthy Air Due to Wildfires, Extreme Heat

[NYT] Trump Says He Won’t Fire Powell. His Fed Battle May Not Be Over Yet.

[WSJ] Trump Says He Has ‘No Intention’ of Firing Fed Chair Powell

[WSJ] China Signals Openness to U.S. Trade Talks—but Not Under Duress

[WSJ] What Drawn-Out Capital Flight Could Do to U.S. Markets

[WSJ] Credit-Card Companies Brace for a Downturn

[WSJ] ‘I Could Lose It All Tomorrow’: The Traders Leaning In to Wild Markets

[WSJ] $1 Trillion of Wealth Was Created for the 19 Richest U.S. Households Last Year

[WSJ] Trump Tariffs Show Mixed Impact on Big Economies

[FT] Scott Bessent says US and China need to de-escalate trade war

[FT] There is no such thing as a Trump whisperer

[FT] Eurozone business confidence plunges over US trade war

Tuesday Evening Links

[CNBC] Dow futures jump 500 points after Trump says he doesn’t plan to get rid of Fed chief: Live updates

[AP] Trump says he has ‘no intention’ of firing Federal Reserve chair

[AP] US Treasury secretary says trade war with China is not ‘sustainable’

[Yahoo/Bloomberg] Treasury Options Show Biggest Worries Since 2021 ‘Flash Crash’

[Yahoo/Reuters] Fed's Kugler, citing inflation risks, supports steady policy rate

[WSJ] Ukraine’s Zelensky Pushes Back on U.S. Peace Plan

[WSJ] How America Lost Manufacturing

[FT] Donald Trump says he has ‘no intention’ of firing Jay Powell

Tuesday Afternoon Links

[AP] Wall Street rallies and recovers all of Monday’s slide as the dollar and US bond market steady

[Axios] Trump edges closer to crossing the market's reddest line

[Yahoo/Reuters] Fed's Harker says US poverty levels may be understated

[Bloomberg] Trump’s Trade War Shaking Pillars of Financial System, IMF Warns

[Bloomberg] Bessent Expects Tariff Standoff With China to De-Escalate

[Bloomberg] Trump’s Fed Attacks Have Significant Market Impact, Goldman’s Hatzius Says

[Bloomberg] Fund Market Is Hit by ‘Patriotic’ Reset in Reaction to Tariffs

[WSJ] Global Economy Set for Slowdown as Tariffs Herald New Era, IMF Says

[FT] Tett: Jay Powell is defiant in the face of Trump’s threats

[FT] IMF warns of rising US recession risk and defends Fed rate policy

[FT] Trump’s attacks on Fed chair Powell worry investors

[FT] Dollar rout forces UK currency risk specialist to suspend shares