Bonds & Stocks
Treasuries hold gains across a flatter curve, with long-end yields down about 3bp near session lows. S&P 500 futures recoup about 0.7% of Thursday’s nearly 3.5% cash-market slump as quarterly earnings season begins with results from several big banks.
Economy
President Donald Trump’s drive to enact trillions of dollars in tax cuts and raise the federal debt is on track after he and congressional leaders successfully corralled House Republican lawmakers to approve a Senate-passed budget outline.
World
China retaliated against Donald Trump’s latest tariffs by hiking duties on all US goods. Beijing will raise tariffs on all US goods from 84% to 125% starting April 12, the Ministry of Finance said on Friday, after the White House clarified that levies on Chinese goods rose to 145% this year.