I didn’t know Walter Reed could test for that.Trump: I’m in very good shape. Good heart. Good soul. Very good soul pic.twitter.com/W0p7EjJcC3
— Acyn (@Acyn) April 12, 2025
Congratulations, you did. No one can believe what you’ve done to the economy.Reporter: How concerned were you about that bond market and to what extent did that play a role?
— Acyn (@Acyn) April 12, 2025
Trump: A lot of people say it was that. Nah
Reporter: What was it?
Trump: I want to put the country in an unbelievable economic position pic.twitter.com/TM8eVu8WLe
Uh-huh.Trump: The bond market is going good. It had a little moment but I solved that problem very quickly. I am very good at that stuff pic.twitter.com/VPaUoQrLqf
— Acyn (@Acyn) April 12, 2025
The bond market sell-off escalated Friday to cap off one of the most volatile and unusual trading weeks in recent memory as President Trump's tariff whipsaw sent yields surging and investors fled safe haven assets.The bond market is almost literally shitting bricks. What was that cognitive test again?
Long-term Treasury yields skyrocketed, with the 10-year yield (^TNX) surging to its highest level since February to trade as high as 4.59%, a massive 72 basis point swing from Monday's low of 3.87%. Shortly after the closing bell, yields pulled back to around 4.49%.
Sure you did.Reporter: Can you tell us about the test? Was it Man, Woman, Person, Camera, TV?
— Acyn (@Acyn) April 12, 2025
Trump: It’s a pretty well known test. Whatever it is. I got every one right pic.twitter.com/SZcEswIWi4
Nobody understands what you’re doing because it doesn’t make sense and you can’t explain it and you change it every 24 hours. Besides:Trump: We’re always going to be the currency of choice as long as you have somebody smart.. When people understand what we’re doing, I think the dollar will go way up. It’s going to be stronger than ever pic.twitter.com/QSQC9VHCFO
— Acyn (@Acyn) April 12, 2025
The mighty dollar, ordinarily a safe haven during times of market-based stress, is falling apart, and its ongoing year-to-date slide is pointing to a much bigger problem for all U.S. assets.Gee, why all those “coinciding moves” at once?
That’s because the weakening greenback has been accompanied by a dramatic selloff in U.S. government debt and whipsaw action in all three major stock indexes on Friday, following a historic rally and big selloffs in equities over the past week. Such coinciding moves — falling dollar, bonds and equities — like the ones seen recently are “rare, ugly and worrying,” according to a team at Evercore ISI, a research arm of New York-based investment-banking advisory firm Evercore.
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