Bonds & Stocks
The dollar slipped with longer-dated US Treasuries as President Donald Trump’s bid to oust Federal Reserve Governor Lisa Cook stoked fears over the long-term outlook for inflation. The 30-year Treasury yield rose two basis points to 4.91% as the move against Cook fueled concern that price pressures could intensify were Trump to reshape the Fed’s policy committee.
Economy
US President Donald Trump threatened to impose fresh tariffs and export restrictions on advanced technology and semiconductors in retaliation against other nations’ digital services taxes that hit American technology companies. The president’s latest act of trade brinkmanship again raises uncertainty over tariff rates for US trading partners.
World
China is sending a key trade negotiator to the US, a move that signals talks are progressing after President Donald Trump extended a tariff truce earlier this month. Vice Commerce Minister Li Chenggang will travel to Washington this week to meet with US officials and business people.