Front Running...

Yeah, someone knew what was going to happen on Wednesday. Now what...

Market outlook:

• 10-year Treasury holds near 4.40% as markets weighed China’s 125% tariff response and signs of deeper U.S.-China decoupling

• Oil heads for weekly loss, with WTI near $60 on trade war fears, soft demand, and oversupply signals

• Gold breaks above $3,200/oz, fueled by recession concerns, weaker dollar, and rising bets on Fed rate cuts

• JPMorgan (JPM) and Wells Fargo (WFC) beat Q1 estimates, but both flagged rising credit risks and trade-driven uncertainty ahead

• Inflation surprises to the downside as energy prices drop; markets stay on edge with tariff-driven price pressures looming

• Buffett taps Japanese debt markets with ¥90B offering as Berkshire (BRK.B) eyes deeper ties with top Japanese trading houses