
The stock market is getting a warning from bonds and the dollar. Tariff turmoil isn’t over.
Corporate spreads have narrowed, and Treasury yields are less volatile, soothed by positive talk on tariffs. Stocks have recovered from their April 2 “Liberation Day” losses, but the dollar remains under pressure. Gold is the safe haven of choice. But worries that tariffs and trade disruptions will impact the economy remain, and any sign that…