Founders: JPM and GS Senior Traders: Trump Blinked By Rolling Back Tariffs

This shows the power the bond market possesses when you can have weeks of risk off in equities—but [only] a couple of days of bond market action results in the [Tariff] pivot GSTrader LM

This morning and yesterday we noted almost in passing that while Donald Trump's tactic to push back the tariffs was a brilliant move, we thought that doing it so fast did not seem like good news. We also noted that Trump said something very weird in one of his public statements. Stated he was watching the bond market , and that's just complete nonsense. The fact that he was watching the bond market, or rather Scott Bessent was watching the bond market— tells you they folded.

What follows is excerpted confirmation of that observation with more meat on the bone from two traders at different banks. One of them is Andrew Tyler, who has been bullish forever., but not today. Both traders are concise well-spoken and clear in their points. No further commentary is needed.