The Real Side with Joe Messina is back again with David Fischer as they discuss the markets and more on how our relationship with Russia is affecting the economy. Russia sold 47.4 billion dollars worth of U.S. Treasuries, and that is what caused the 10-year yield to go above 3%, according to the United States Treasury. The Treasury was setting the record straight, declining the fact that tariffs had something to do with it. Russia has also been making deals with Iran for 50 billion dollars in the oil and gas industry.
Russia selling U.S. Treasuries could lead to other countries to do the same.
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Show notes –
– With Iran and Russia making trade agreements that go against the U.S. policies, it may affect our relationship with Russia.
– There is a 34 billion dollar tariff currently in place, being the largest since 1933, with the current trade war with China.
– Some very well known billionaires are coming out and expressing their negative opinion.
– Soybeans have dropped 51% since the tariffs were implemented.
– Tariffs on steel have been terrible, and have left many steel based companies trying to leverage the tariffs implemented.