Investors trimmed bets on Federal Reserve rate cuts following the announcement of a delay of the most punitive tariffs imposed in the Trump administration’s trade battle with China, with an initial rate reduction now not seen until September and only a half-point reduction seen by year’s end. With U.S. bond yields rising and stock futures pointing to higher equity prices, contracts tied to the Fed’s benchmark interest rate reflected a lowering of concerns about U.S. growth and the Fed’s need to bolster it with rate cuts sooner rather than later. A dollar rising after the announcement that tariffs would be lowered for ... (full story)