End of Day Summary – 4/28/2025

US Treasuries

Bloomberg: Treasury Market’s ‘New World Order’ Brings Fear of Long Bond 

The “Sell America” trade that gripped markets this month has left a potentially lasting dent in investors’ willingness to hold the US government’s longest-maturity debt, a mainstay of its deficit-financing toolkit.

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Upcoming US Treasury Supply

The question no one is answering … How much of the current (as in the last 10 days) shipping slowdown was natural after a big rush to beat tariffs? How much is the actual slowdown?

(Laden means not an empty container)

A typical container ship can carry up to 20,000 TEUs, they are bigger than an aircraft carrier.

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In Other News… 

Earnings Continue This Week:

Bloomberg: Trump China Tariffs Set to Unleash Supply Jolt on US Economy

Since the US raised levies on China to 145% in early April, cargo shipments have plummeted, perhaps by as much as 60%, according to one estimate. That drastic reduction in goods from one of the largest US trading partners hasn’t been felt by many Americans yet, but that’s about to change.

Arbor Data Science: 

Bloomberg: A Flying Slump Comes at the Worst Time for Southwest 

Budget-conscious travelers are pulling back over concerns about the economy just when the airline is revamping its low-cost model.

CNBC: More Americans are financing groceries with buy now, pay later loans- and more are paying those bills late, survey says 

A growing number of Americans are using buy now, pay later loans to buy groceries, and more people are paying those bills late, according to new Lending Tree data released Friday. 

ATTOM: Average Property Tax Amount on Single-Family Homes Up 2.7 Percent Across U.S. in 2024

Home Values Rose and Effective Tax Rates Fell; The Average Single-Family Home Property Tax Bill Rose 3 Percent, to $4,172; Highest Tax Rates Remain in the Northeast and Midwest