ECB's Lagarde: ECB is monitoring and ready to use instruments it has to procure price stability

MORE ECB'S LAGARDE: IF I WERE AWARE OF ANY U.S. INTERVENTION IN THE TREASURY MARKET I WOULDN'T TELL YOU

The Fed is absolutely intervening in the debt market to keep yields under 5%. 30Y yield spiked to 4.95% today, however it came down to 4.85% during the day. We will hear the response from the White House today concerning the tariffs. I'd imagine if Trump is to raise tariffs or do something else to China, then I expect the news to hit tomorrow when markets are closed, so to not crash the stock market. If Trump backs off even momentarily and doesn't announce further tarrifs to China or something else, we should expect the news to come out today.

The instrument Lagarde is talking about is further reduction in interest rates and QE.