Bonds & Stocks
Wall Street traders trying to look past all the back-and-forth around tariffs drove stocks higher as President Donald Trump’s temporary pause on electronics spurred a rally in the world’s largest tech companies. Treasuries rebounded after a selloff that cast doubt on their status as the ultimate haven. The dollar halted a four-day slide.
Economy
President Donald Trump’s tariff exclusions for smartphones and other tech products have added to a growing set of confusing signals for companies and trading partners digesting how to engage a White House still promising to negotiate dozens of new deals in America’s favor.
World
China’s credit expanded more than expected in March as the government accelerated bond offerings to help the economy offset the impact of surging US tariffs. Aggregate financing, a broad measure of credit, rose 5.89 trillion yuan ($808 billion), according to Bloomberg calculations based on data released by the People’s Bank of China on Sunday, an increase of almost 22% from the same month a year ago.