Trade Tensions Intensify

In a dramatic escalation of the ongoing trade war, China has announced a new 34% tariff on all goods from the US. This move comes as a direct response to US President Donald Trump's recent imposition of a 34% trade duty on Chinese goods. The Chinese Ministry of Commerce has also sanctioned 11 American companies and 16 US-based entities, signaling a significant deterioration in trade relations between the two economic giants.

Investors Seek Safe Havens

Amid growing concerns over a potential worldwide recession, investors are rapidly turning to safe-haven assets. The yield on the 2-year US government bond fell sharply by 12.2 basis points to 3.578%, while the 10-year yield dropped by 11.3 basis points to 3.92%. Similarly, the 30-year bond yield declined by 11.3 basis points to 4.364%, reflecting heightened market anxiety.