It’s like clockwork: President Trump delays 50% EU tariffs until July 9th. Then, the 10Y Note Yield instantly rises back above 4.55% . Trade deals are no longer containing the bond market. https://x.com/KobeissiLetter/status/1926767250725331454 ..Higher Equities OR Lower 10-yr yields? ..Make the Economy Worse Again by raising tariffs - you get lower equities and lower 10-yr yields ..Reverse that - you get higher equities but higher 10-yr yields. ..a predicament for Trump 2.0.
