Deutsche Bank has a wake-up call for analysts who denied Trump would deliver on tax rhetoric—but UBS is questioning how quickly the White House may retreat.

In times of trouble, investors look to the bond market for signals about the economy. So far, the corporate-debt market has shrugged off President Trump’s tariff announcements. After a brief disruption in debt issuance,

U.S. President Donald Trump's initial tariff actions against Canada, Mexico and China sparked a rise in broad market volatility and a rush to take guard against increased ructions across asset classes from stocks to currencies.

Tariffs will be paused for 30 days. But a 10 percent levy on Chinese goods is still scheduled to go into effect.

Critics warn his posture could embolden China to expand ties to Latin American countries, and Russia to continue advances in Ukraine.