$JAAArgh
Are there foreign covered bonds in your buffer?
Uncertainty is high — but maybe not disastrously so
Also in today’s newsletter, being a member of the Net-Zero Banking Alliance just got a heck of a lot easier
Tariff-induced economic uncertainty prompts worries over potential defaults and downgrades
Upsized offering from energy group ends two-week high-yield bond drought triggered by Trump trade war
But fresh credit remains weirdly healthy
Wolfspeed has stepped into a trap
Slowdown in high-yield bond market issuance threatens a tentative rebound in dealmaking
10-year yield falls for first time since April 4 as investors scoop up Treasuries
And lessons from ‘73
Plus, Treasury market turmoil, gold surges, and David Hockney at Paris’s Fondation Vuitton
Even US Treasuries take a hit as Donald Trump’s tariff blitz shakes confidence in American assets
10-year US government bond yield rose most this week since 2001
Senior Fed official helps ease market jitters by signalling readiness to act if market strains grow
An end-of-week inbox raid
US central bank prepared to act with ‘various tools’, Susan Collins says
Oil-producing nation injects cash to shore up loan after crude prices slump
Parking money in America is no longer the routine, fuss-free, neutral option
A new Fed facility?
Mayhem threatens to erode the appeal of US investments — which could, perversely, help Trump get what he wants.
Investors rush away from junk bonds and leveraged loans on rising recession fears
But trade war with China and tariffs on most US imports still risk great harm
Swapsmageddon or a Basisclysm?
Sell-off in 10- and 30-year gilts prompts central bank’s decision to sell only shorter maturity bonds in April 14 auction
