Bonds & Stocks
Bonds extended this year’s rally and stocks fluctuated after the latest economic data pointed to a further slowdown in the labor market, with traders keeping a close eye on the latest developments on tariffs. Treasuries rose across the curve as hiring at US companies slowed in February to the lowest pace since July.
Economy
President Donald Trump took the lectern Tuesday for his primetime address beset by warning signs about the US economy, and acknowledged to Americans there could be more discomfort ahead. Trump defended his plan to remake the world’s largest economy through the biggest tariff increases in a century, saying it would raise “trillions and trillions” in revenue and rebalance trading relationships he called unfair.
World
President Xi Jinping signaled China’s determination to push ahead with an ambitious growth goal this year, despite the trade war. If Donald Trump boosts tariffs further, analysts say Beijing will need to unleash big stimulus to hit the target.