- Reuters
Analysis-Jail time for contempt could spell political trouble for Trump
If the judge overseeing Donald Trump's hush money trial is to be taken at his word, America could be careening toward an unprecedented moment: A former U.S. president behind bars. Justice Juan Merchan on Monday threatened Trump with jail time for repeatedly violating a gag order in the criminal case underway in Manhattan, although Merchan said it is a step he is reluctant to take. Jailing Trump would almost certainly inflame his already loyal base of supporters and in their minds further Trump's narrative that he is being politically persecuted, an argument that helped him win the 2024 Republican nomination.
- Reuters
Morning bid: Cooler US takes edginess off markets, UBS jumps
World markets have returned to levels of almost month ago as fears of an overheated U.S. economy abate even as corporate profit growth remains brisk. The April miss on new payrolls and the sight of annual wage growth ebbing below 4% have been enough to switch the narrative back to a Federal Reserve which is on hold for now, rather than one that may even consider further interest rate hikes. What's more, the Fed's latest loan officers survey shows renewed weakening in demand for industrial loans and a decline in household demand for credit in the first quarter of the year.
