Speaking exclusively to Bloomberg, Treasury Secretary Scott Bessent played down the recent selloff in the bond market, rejecting speculation that foreign nations were dumping their holdings of US Treasuries.

In her latest column, Bloomberg Opinion's Shuli Ren writes China is done retaliating against President Donald Trump's exorbitant tariffs, calling the administration's actions a "joke" that it no longer considers worthy of matching. The question now is whether President Xi Jinping will find a more potent weapon to strike back - such as its $760 billion worth of Treasury securities. We get her reaction to Bessent's comments.

Plus - a degree of calm returned to Wall Street, with stocks and bonds notching a twin rally after a tumultuous week in the grip of President Trump's disruptive trade war. We get reaction to the day's market action from Ross Mayfield, Investment Strategist at Baird.

See omnystudio.com/listener for privacy information.