The stock market experienced a strong rebound yesterday following a damaging rumor that President Trump had implemented a 90-day pause on the long-anticipated tariffs. The S&P 500 surged from its lows, witnessing an impressive intraday rise of about 8% before quickly retreating to its previous levels within the hour. Wall Street is poised and eager to recapture the peaks seen before the tariff announcements. However, it appears that further challenges lie ahead. Long-term Treasuries have been on a remarkable upward trajectory since March 27, resulting in significantly diminished yields. Who is responsible for spreading this “fake news”?
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