Tariffs Revisited: Policy Uncertainty Returns as Fed Risks Build (22 Feb 2026) Dear allHappy Chinese New Year! Gong Xi Fa Cai!I am doing my usual work preparation over the weekend so as to provide timely updates to my clients. As I have a little bit of time, I decide to post on my blog too.Recent developments surrounding the U.S. Supreme Court ruling on tariffs introduce another layer of uncertainty into the market, even though the initial equity reaction was positive.1️⃣ Supreme Court Ruling & Tariff I ...

Market Trends - The US 2-year Treasury yield has fallen below 35%, the lowest level since August 2022 [1] - The 2-year US Treasury yield steadily climbed following the Federal Reserve's interest rate hikes in 2022 [1] - The 2-year US Treasury yield once fell to 35% when the Federal Reserve began cutting interest rates last September [1]