Trump's reciprocal tariffs stoke fears that a Mar-a-Lago Accord could be next

The disruptive and unpredictable nature of President Donald Trump’s various tariff announcements, and in particular the 2 April ‘Liberation Day’ reciprocal tariffs, had as one consequence a sell-off in the US Treasury market, which started on 5 April. The sell-off stemmed in part from tariff-related inflation fears and from over-leveraged hedge funds facing margin calls. But most significantly it marked a sudden recognition that Trump is serious about introducing massively disruptive economic policies.Because of the boldness of the Liberation Day tariffs, investors now believe that anything co...

The rebound is losing steam