US: Trump Truth Social Post On Trade Court Ruling
May-30 00:24
US President Trump has posted on Truth Social regarding the trade Court ruling. Most focus was on hopes for the ruling to be overturned soon and the damage done to the economy (and the funds lost) if it isn't, see below for full details.
- "The U.S. Court of International Trade incredibly ruled against the United States of America on desperately needed Tariffs but, fortunately, the full 11 Judge Panel on the U.S. Court of Appeals for the Federal Circuit Court has just stayed the order by the Manhattan-based Court of International Trade. "
- "The ruling by the U.S. Court of International Trade is so wrong, and so political! Hopefully, the Supreme Court will reverse this horrible, Country threatening decision, QUICKLY and DECISIVELY."
- "The horrific decision stated that I would have to get the approval of Congress for these Tariffs. In other words, hundreds of politicians would sit around D.C. for weeks, and even months, trying to come to a conclusion as to what to charge other Countries that are treating us unfairly. If allowed to stand, this would completely destroy Presidential Power — The Presidency would never be the same!"
- "Under this decision, Trillions of Dollars would be lost by our Country, money that will, MAKE AMERICA GREAT AGAIN. It would be the harshest financial ruling ever leveled on us as a Sovereign Nation. "
See the full post here
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Apr-30 00:21
TYM5 is trading 112-07, up 0-02 from its close.
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- Cash ACGBs are flat to 2bps richer with the AU-US 10-year yield differential at +2bps.
- Swap rates are 1-2bps lower.
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