Bonds & Stocks
US Treasuries slipped, trimming a monthly gain in April, as mixed economic data muddled the path for the Federal Reserve to meet trader expectations by cutting interest rates at least three times by year-end.
Economy
GDP shrank in the first quarter on extensive front-loading ahead of tariffs. That’s quickly reversing now that more tariffs have taken effect. Final sales to domestic purchases — which exclude trade and inventories — fared better, but that demand was also pulled forward, leaving less room for growth ahead.
World
China Investment Corp., the nation’s $1.3 trillion sovereign wealth fund, is cutting exposure in US private markets to curb risks as an escalating trade war between the world’s two largest economies threatens its investments, according to people with knowledge of the matter.