Year ahead median inflation expectations continue to soar, at 6% in April

Amazon denies tariff label plans

Pfizer CEO cautiously optimistic pharma will avoid tariffs.

Wells Fargo CEO: We see concerns playing out in the market and the economic uncertainty related to tariffs.

Bessent: I believe that it's up to China to de-escalate, because they sell five times more to us than we sell to them, and so these 120%, 145% tariffs are unsustainable

🇵🇰🇮🇳An all-out war is not likely. But a limited conflict at LoC and/or int'l boundary is likely. A lot depends on what the Indian response is and how it is executed. -FJ [Pakistan has got nukes. A little skirmish could make good FUD]

GS: bullish Gold, bearish confidence in US

🚨LUTNICK: TARIFF WILL APPLY TO FOREIGN CAR MAKERS BUILDING CARS IN US [when yields go down, Lutnick comes up]

1inch launches on Solana, aims to enable cross-chain swaps and enhance liquidity -announcement

China's foreign ministry has released a video on the trade war: China will not kneel. [Please don't]

Martin Wolf: US is undermining its own global standing in its economic confrontation with China. Under Trump, trade policies have become erratic and isolationist, alienating allies and weakening trust.

Fitch Ratings: Mass deportations will likely increase labor costs for several US sectors.

🚨SEC delays Franklin Templeton spot XRP ETF until June 17.

Deutsche: Investors have priced in more rate cuts from the Fed, alongside much higher inflation [Something has got to give. We believe focus will shift on rising unemployment, inflation concerns will be discarded as short term & tariff induced, the Fed will cut]

🚨UPS will cut 20,000 jobs and close 73 buildings in 2025 to reduce costs as Amazon, its biggest but least profitable customer, halves its shipping volume.

Rick Rieder from BlackRock says US stock market 5–10% overvalued based on earnings and economy

USTR Jamieson Greer told Senate Republicans today the administration will be announcing trade deals over the next few weeks that could settle down Trump’s trade war, per attendee -Semafor

🚨Trump has said he would veto the bipartisan Senate resolution that would end the April 2nd Trump tariffs measure if it passes Congress.

*Trump: China and the EU ripped the US off
*Trump: China will probably eat those tariffs
*U.S. Treasury Secretary Bessent: No trade deal is done until Trump announces it.
*Bessent: Trump needs to sign off on 18 key trade deals, he is involved in talks.
*Bessent: Factories in China are having to shut down, have seen substantial estimates of layoffs in China

WH Economic Adviser Miran: We don't see higher consumer prices over extended time.

At least one big option trader has dialed up an $18 million bet that the Federal Reserve will avoid cutting interest rates any time this year. -sources