Read, Watch or Listen

Bond market turmoil forced a pause in Trump administration tariff negotiations. The S&P 500 neared a bear market before a two-day bond market downturn prompted a rethink. While the stock market rebounded, the bond market remained cautious. JPMorgan's analysis shows significant but not catastrophic market stress, less severe than the March 2020 crisis. While basis trades contributed, swaps spread trades were potentially the biggest culprits in the recent Treasury market volatility.

Prepared by Christopher Adams and reviewed by editorial team.