Stocks soared back to life after April’s tariff selloff, while bonds remained in the green despite renewed volatility.

Headwinds and tailwinds are roughly in balance, but the outlook could tilt either way.

Strategists say equities have already priced in the good news on tariffs as the trade war grinds on.

After the tariff scare, Treasury yields are on the rise as investors focus on the worsening fiscal outlook.

The dollar’s decline reflects concerns among global investors.

The scope of the temporary reductions took markets by surprise.

Meanwhile, “old economy” stocks that pulled ahead in the first quarter are falling behind again.

The slowdown comes as US firms stock up on inventory ahead of Trump’s tariffs.

Wall Street expected bull markets, but got intense volatility and uncertainty instead.

After the recent selloff, the bull market’s most in-demand stocks look much cheaper.