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Thanks to good trades prior to M&A, credit downgrades, and defaults, the insurers in the top quintile for dealer-network size achieved about 0.84 percentage point higher annual returns on corporate bonds, according to a recent study.

The EU’s countermeasures will apply to U.S. goods exports worth up to €26 billion (US$28.4 billion)—matching the economic scope of the U.S. tariffs.

Canada announced new 25% tariffs on about C$30 billion (US$20.8 billion) of U.S.-made products, including steel, aluminum, computers, and sporting goods.

He downplayed the risk that he might cause a recession through the shifting and unpredictable nature of the current, on-again, off-again trade war.

“I don't want to say ‘normal,’ but we’re operating,” Consumer Financial Protection Bureau operations chief Adam Martinez testified before U.S. District Senior Judge Amy Berman Jackson of the District of Columbia.

“We increasingly view a large-scale pullback in spending driven by uncertainty about tariffs, DOGE layoffs, and weakness in equities as a non-trivial tail risk.”

This is the first payrolls report that fully reflects Trump’s second term, but because it landed before most of the administration’s firings, March unemployment data will look “a lot uglier.”

Trump delays by another month his tariffs on all Canadian and Mexican goods covered by the USMCA.