Close to 'Inflection Point' for Yields: BNP Paribas' Robson
Meghan Robson, Head of US Credit Strategy at BNP Paribas, says we are close to an inflection point where higher yields can start to challenge credit. She speaks to Bloomberg's Jonathan Ferro, Lisa Abramowicz and Annmarie Hordern on "Bloomberg Surveillance." (Source: Bloomberg)
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ADHD, Obesity Link May Depend on Where You Live
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Failing judicial success, Trump's trade team would have to stitch together duties using executive authority other than the one struck down. But the process would take months, and decisions could still end up facing legal challenges, economists say. Treasury Secretary Scott Bessent said on Fox News Thursday that 'anything that the courts do to get in the way both harms the American people in terms of trade and in terms of tariff revenue.' Even a short-term hit to revenue would pose problems: the government is currently barred from raising net new debt, and the Treasury has been using special accounting maneuvers to make good on payments. Monthly customs revenue just hit a record of over $16 billion, helping the department's cash flows. Barclays Plc warned that the court ruling will bring forward the date by when the Treasury will have exhausted its cash and extraordinary measures. 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White House Council of Economic Advisers Chair Stephen Miran on May 27 told Bloomberg Television the tariffs would take in hundreds of billions of dollars a year, helping alleviate concerns about the fiscal deficit. Those estimates have bolstered the Trump administration against charges that its tax bill blows a hole in the budget. 'The blatantly wrong claim that the one, big beautiful bill increases the deficit is based on the Congressional Budget Office and other scorekeepers who use shoddy assumptions,' White House Press Secretary Karoline Leavitt told reporters Thursday. They have 'historically been terrible at forecasting,' she said. After the House passed a version of the tax bill earlier this month, it's now in the Senate's hands. It's possible that Senate Republicans could propose adding tariffs in the multi-trillion dollar spending bill to help offset costs, though it's unclear it would garner enough support to pass. 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