TLDR 

MARKET RECAP → The stock market staged one of its largest rallies ever after President Donald Trump hit pause on parts of his "reciprocal" tariff plan, triggering a massive rebound in a market that had spent the past week under intense pressure.

MAIN STREET’S TURN TO SHINE? →📉 Treasury Secretary Scott Bessent said it's time for small businesses to lead the economy — just as Trump’s tariffs sparked a stock market tumble and recession fears, putting Main Street in the spotlight and Wall Street on edge.

INVESTORS FLEE TO GERMAN BONDS AS TRUMP TARIFFS SPARK TREASURY SELL-OFF → 🇩🇪 As Trump’s tariffs rattled markets and sent U.S. Treasury yields surging, investors rushed to German bunds as a safer bet — flipping the usual script and turning Europe into the new flight-to-quality destination.

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Main Street’s Turn To Shine?

💼 Treasury Secretary Scott Bessent declared it was “Main Street’s turn” after 40 years of Wall Street dominance, emphasizing that the Trump administration’s economic agenda aims to shift growth and investment toward small businesses and workers — even as tariffs stir recession fears.

📉 Trump’s steep tariffs triggered a market nosedive earlier this week, with the S&P 500 nearly 19% off its February high. While the wealthy dominate stock ownership, Bessent noted that Main Street’s financial fate is increasingly tied to equities via 401(k)s and IRAs.

🧾 Bessent outlined pro-growth reforms to stave off a downturn: preserving Trump’s tax cuts, bringing back 100% depreciation, and introducing tax breaks on tips, overtime, and Social Security. Still, Wall Street execs like Jamie Dimon warned the tariff storm may already be tipping the U.S. toward recession.

TODAY’S TOP NEWS

Investors Flee To German Bonds As Trump Tariffs Spark Treasury Sell-Off

📉 U.S. Treasurys sold off as Trump’s initial tariff rollout and China’s retaliation jolted markets, driving 10-year yields up 12 basis points. With volatility rising, investors bailed on traditional safe havens like Treasurys, shifting the global bond narrative.

🇩🇪 Germany emerged as the surprise shelter, with yields on its 2-year bonds falling 12 basis points as investors sought stability. Analysts pointed to Berlin’s clear fiscal path and the eurozone’s more predictable rate outlook as key draws.

💥 Economists compared the surge in U.S. borrowing costs to the UK’s 2022 “mini-budget” debacle, warning that tariffs risk becoming a capital destroyer. With bond hedging power eroding, this isn’t your classic 60/40 portfolio environment anymore.

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