Internet reports that with no sign that Trump will give in on the tariff issue, expectations for the Federal Reserve to urgently cut interest rates are rising. Swap trades show there is about 40% chance that the Fed will cut interest rates by 25 basis points next week, well before the Fed's interest rate decision scheduled for May 7. At the same time, investors sold risks and snapped up bonds, causing yields to plummet. On Monday, the yield on the U.S. two-year Treasury note, which is most sensitive to monetary policy, fell 22 basis points to 3.43%. Since Trump announced the tax, the yield on the U.S. two-year Treasury note has fallen by about 50 basis points. (Jin Shi)