Rates Spark: The ante is upped on tariffs - now what?

From think.ing.com

As the US imposed tariffs on several countries, including Japan and South Korea, of between 25% to 40%, the realisation dawns that a ratchet-up phase is indeed upon us. From the markets perspective, no dramatic reaction so far. Things change so often that a conviction reaction seems less likely on these announcements. Since they are being done just a few at a time tends to reduce their significance. Also, it seems like the market is choosing not to pre-suppose bad-case outcomes. Instead preferring to wait and see what actually happens. Hence the relatively mild reaction, so far. Also the market should be assuming ... (full story)