Trump Accuses Xi of Conspiring Against US; Global Bond Selloff Deepens; Google Antitrust Ruling

China's Military Display and Global Alliances

• 🇨🇳 President Xi Jinping asserted China's power with a once-a-decade military parade, attended by leaders of Russia and North Korea.
• 💬 Xi stated China aims to be self-reliant and remains unshaken by threats, emphasizing the nation's resilience.
• 🤝 The parade coincided with Russia's Gazprom signing a gas pipeline agreement with China through Mongolia, highlighting growing energy ties.
• 🇺🇸 President Trump responded on social media, accusing Xi, Putin, and Kim Jong-un of "conspiring against the United States of America."

US Tariffs and Federal Reserve Leadership

• ⚖️ President Trump plans to ask the Supreme Court for an expedited ruling to overturn a federal court decision that deemed many of his tariffs illegally imposed.
• 🏦 Treasury Secretary Steven Mnuchin is set to interview candidates to replace Jay Powell as Federal Reserve Chair, with the search process beginning for the May term end.
• 🚫 Trump's move to oust Fed Governor Lisa Cook is being challenged by her lawyer, who argues the president lacks valid grounds for removal.

Global Bond Market Turmoil

• 📉 Global bonds are experiencing renewed selling pressure due to concerns over inflation, debt sales, and fiscal discipline.
• 📈 The yield on 30-year US treasuries neared 5%, with long-dated European and Japanese bond yields also rising significantly.
• 🌐 Market participants are grappling with narratives around public sector debt and inflation, with changes in Japan's market identified as a catalyst for contagion.

Tech Antitrust and AI Developments

• 💻 A federal judge ruled that Google does not have to sell its Chrome web browser, though it must share search data with competitors and cannot dictate exclusive contracts for its apps.
• 🤖 Google praised the ruling, citing AI's impact on search, but continues to disagree with the earlier finding of monopolizing online search.
• 🍎 Meta Platforms has hired key AI talent from Apple, including its lead AI researcher, as both companies advance their AI and robotics initiatives.

US Domestic and International News

• 🚨 The White House plans to deploy federal law enforcement to Chicago, despite a judge ruling a similar deployment in Los Angeles illegal.
• 🏛️ US Space Command will be located in Alabama, reversing a previous decision by the Biden administration.
• ⚖️ Thousands of records from the Justice Department regarding the Jeffrey Epstein case have been released, following meetings with victims.