A.M. Update

S&P futures are down -0.9% ahead of today’s tariff announcements. (2m) After yesterday’s safe-haven bid, Treasury yields are little changed. The 10-yr yield is down two basis points to 4.13% and the 2-yr yield is unchanged at 3.86%. The weekly MBA Mortgage Applications Index dropped 1.6%. The ADP Employment shows the US economy added 155k…