Steve Goldstein

1 week ago | morningstar.com | Steve Goldstein

By Steve Goldstein Two high-profile hedge-fund managers employed colorful language as they debated the finer points of the tariff strategy of President Donald Trump. Clifford Asness, the hedge-fund manager and co-founder of AQR Capital Management, looked at Pershing Square CEO Bill Ackman's description the tariff-policy change was "brilliantly executed" and said, "one of the main benefits of making some money is not having to wear a gimp suit for anybody.

1 week ago | marketwatch.com | Steve Goldstein

Economist calculates the effective tariff rate if Americans stop buying Chinese goodsLast Updated: April 10, 2025 at 9:17 a.m. ETFirst Published: April 10, 2025 at 7:15 a.m. ETThe combination of a 10% tariff on most products and 125% on Chinese ones had Wall Street scrambling to come up with their new assessments. Their calculations were not universal, but all had effective tariff rates in the mid-20% range.

2 weeks ago | morningstar.com | Steve Goldstein

By Steve Goldstein The U.S. Treasury is auctioning $39 billion in 10-year securities on Wednesday Treasury yields spiked on Wednesday as investors bailed out of what has been perceived as the world's safest instrument on expectations of crumbling foreign demand as tariffs take effect. The yield on the 10-year Treasury BX:TMUBMUSD10Y spiked to as high as 4.516%. Yields move in the opposite direction to prices.

2 weeks ago | marketwatch.com | Steve Goldstein

Xi Jinping and Donald Trump have very different stances on the U.S.-China trade relationship. The headline from China’s white paper on trade is that the country hit with 104% tariffs from the U.S. wants to start talking. But the actual paper, released in English by China’s State Council Information Office, shows the chasm in perception between the two sides on the trade relationship.

2 weeks ago | morningstar.com | Steve Goldstein

By Steve Goldstein Emergency rate cut and temporary purchases of bonds are alternatives The Federal Reserve wanted to sit back and monitor how an economy where inflation already was elevated would respond to sweeping tariffs implemented by the Trump administration. But financial-market gyrations may not give it the time to wait. The yield on the 10-year Treasury BX:TMUBMUSD10Y spiked as high as 4.52% as midnight struck, with Wednesday bringing the highest tariffs in a century into effect.