Tariffs, Courts & Treasuries
A U.S. federal appeals court has ruled that the Trump administration misused emergency powers to impose tariffs that have been bringing in roughly $30 billion per month. If upheld, the decision could force Washington to repay importers and remove the steepest trade taxes in a century. The case is now on an expedited track to the Supreme Court, with a key October 14 deadline looming. What’s at stake? - Congress relied on these tariff revenues to help offset this year’s tax cuts. A rollback could leave a deeper fiscal hole, unsettling Treasury buyers. - Importers say nothing changes until the court outcome, but market uncertainty is rising. - Steel and aluminum duties (1962 Act) and other tariffs (1974 Trade Act) are not affected — the dispute centers on the 1977 emergency powers. Trade policy and fiscal stability are deeply intertwined.
Uranium going again 📈📈
Source: Barchart
Something to be worried about
The chart of the S&P 500 expressed in a strong currency (Swiss franc) does not look the same as in Dollars. Source: i3 invest
Gold hit $3.600 for the 1st time
Source: Barchart
Google can keep its popular Chrome browser, a federal judge has ruled
Alphabet $GOOGLE shares are up 8% AFTER-MARKET. Source: Brew markets, CNBC
BREAKING: Trump tells Xi Jinping to 'please give my warmest regards to Vladimir Putin, and Kim Jong Un, as you conspire against The United States of America.'
Source: The Spectator Index @spectatorindex on X
This is Bloomberg's measure of bond market liquidity, which compares actual yield curves to synthetic smooth yield curves for each country
The more kinks you have in the yield curve, the higher this index and the worse is liquidity. UK off the charts, France rising rapidly... Source: Robin Brooks
Based on forward P/E, US equities are trading at a 53% premium relative to the rest of the world
Source: Augur Infinity
