Core Viewpoint - The credit market is expected to receive support from the White House to limit the widening of spreads this year, as indicated by U.S. Bank's credit strategists led by Yuri Seliger [1] Group 1 - The Trump administration has shown sensitivity to the negative impacts of tariff policies on the market and the U.S. economy [1] - The "Trump put" supports the view that investment-grade bond spreads should remain in the range of 90 to 130 basis points by 2025 [1] - As of last Friday, the spread on U.S. high-grade bonds narrowed to 102 basis points, down from a peak of 119 basis points following the announcement of new tariffs on April 2 [1]