Dramamine please

So a 90 day pause on tariffs on ‘non-retaliating countries’ and for China their tariff rate now goes to 125%. Respite? Further economic suicide? It will all depend on where you source product from of course and unfortunately about $450b is still being imported from China.

With respect to the 10 yr note auction, it was solid. The yield of 4.435% was 3 bps below the when issued pricing. The bid to cover of 2.67 was above the previous one year average of 2.53. And, direct and indirect bidders bought about 89% of the auction, the 3rd highest since August 2023.