The article discusses the fluctuations in the U.S. dollar, bond yields, and commodity prices due to trade war developments and expected negotiations with Mexico and Canada. Initially, the U.S. dollar rose but later declined, complicating global exports. The 10-year yield spiked and then fell amidst economic news. Oil and lumber prices mirrored this trend, rising briefly before dropping as negotiations progressed. Mortgage rates remained flat despite economic fluctuations, shifting focus to the importance of labor data in influencing rates over inflation amid current trade discussions.
The U.S. dollar initially rose after the announcement of tariffs but later declined as a strong dollar poses challenges for global exports.
The bond market saw volatility as the 10-year yield spiked to 4.58% before dropping to 4.47% following news of trade negotiations.
Oil and lumber prices surged amid tariff discussions but fell throughout the day with reports of a possible delay in tariff implementation.
Despite recent headlines, mortgage rates have remained stable, and the focus will shift to labor issues impacting rates more than inflation.
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