On May 23, 2025, President Donald Trump threatened to impose a 50% tariff on goods from the European Union, starting June 1, 2025. This action is due to stalled discussions.

On May 23, 2025, the US dollar slumped to its lowest level since 2023, driven by new tariff threats from President Donald Trump and concerns about a widening fiscal deficit. The Bloomberg Dollar Spot Index fell as much as 0.8%.

On May 23, 2025, Tether CEO Paolo Ardoino stated in an interview in New York that Tether is focusing on markets outside the US. This is happening as the US considers regulating stablecoins.

On May 23, 2025, Treasury Secretary Scott Bessent stated that the US could potentially achieve 3% economic growth by 2028. Bessent mentioned the possibility of reaching 3% growth by this time next year during Wall Street Week.

On May 23, 2025, US Treasury Secretary Scott Bessent stated that President Donald Trump's proposed tax bill will provide certainty and help bring down the total debt to GDP ratio, with a goal to reach a deficit with a 3 in front of it by 2028.

Reported on May 23, 2025, Indonesia plans to issue bonds denominated in Chinese yuan and Australian dollars for the first time in 2025. Suminto, head of the finance ministry’s debt management office, mentioned the government will strongly consider selling dimsum and kangaroo bonds this year, depending on market conditions.

On May 23, 2025, it was reported that Speaker Johnson aims to get tax bill to Trump by July 4. The event date is May 22, 2025.

On May 23, 2025, US Treasury Secretary Scott Bessent announced that the Trump administration has paused plans to create a sovereign wealth fund to prioritize paying down the national debt. This statement was made during an interview on Bloomberg Television’s Wall Street Week with David Westin.

On May 23, 2025, Treasury Secretary Scott Bessent indicated that plans for deregulation were gaining momentum, leading to slight gains in US government debt. He mentioned the potential for easing bank capital rules on Treasuries and the possibility of striking several large trade deals in the coming weeks.

On May 23, 2025, it was reported that bond investors are demanding higher compensation for holding long-dated US debt due to concerns about the widening fiscal deficit. The US 10-year term premium has risen to nearly 1%, a level not seen since 2014, reflecting investor anxiety about future borrowing.

On 2025-05-23, Barclays Plc. suggested that high-quality taxable municipal bonds are expected to increase in value after Moody’s Ratings downgraded the U.S. government's credit rating due to concerns about the country’s declining fiscal outlook.

On May 23, 2025, Treasury Secretary Scott Bessent indicated that US regulators may ease the supplementary leverage ratio (SLR) this summer, potentially lowering Treasury yields. The change, involving the Fed, the FCC, and the FDIC, could bring yields down by tens of basis points because banks are being penalized for holding treasuries.

On May 23, 2025, it was reported that President Trump is considering removing the tax-exempt status from Harvard and other universities.

On May 23, 2025, it was reported that Chinese President Xi Jinping has been calling European leaders. The purpose is to maintain close economic relationships amid President Trump's tariff threats.

On May 23, 2025, it was reported that President Trump stated he will impose a 25% tariff on Apple if iPhones are not made in the U.S. Gene Munster commented that a 25% tariff would likely result in a 14% price increase.

On May 23, 2025, ECB Chief Economist Philip Lane stated that faster US inflation, potentially caused by President Donald Trump’s tariffs, would not necessarily affect the euro zone. Lane explained that floating exchange rates prevent a direct link between US and European inflation, emphasizing the ECB's control over inflation.

On May 23, 2025, Axonic Capital's Peter Cecchini stated that tariffs and the fiscal setup add a risk of uncertainty in credit, and fiscal austerity is required.

On May 23rd, 2025, Federal Reserve Governor Lisa Cook stated that economic vulnerabilities from overall household borrowing are moderate, though there are some signs of stress among low to moderate income borrowers and those with subprime credit scores.

Published on 2025-05-23, the report notes that in 2022 and 2023, auto and credit card delinquency rates for borrowers with subprime credit scores increased substantially and are at or near the highest levels since the financial crisis.

On May 23, 2025, it was reported that the Trump administration is prioritizing digital assets, with stablecoins potentially creating $2 trillion of demand for U.S. Treasuries and Treasury bills.

As of May 23, 2025, the Genius Act, a regulatory bill for stablecoins, has progressed through the Senate. A similar measure has been approved by the House Financial Services Committee but still needs to pass the House.

On May 23, 2025, a new contract for NJ Transit engineers was announced, increasing their pay to over $50 per hour. The starting hourly wage had been about $39.78.

On May 23, 2025, Bloomberg Markets reported that the Senate is moving forward with its stablecoin bill called the Genius Act. Democrats are looking to add an amendment that would prevent the president from making money from stablecoins.

On 2025-05-23, it was reported that the European Union is considering including the Nord Stream 2 gas pipelines, linking Germany and Russia, in a fresh proposal of sanctions against Moscow. The European Commission will consult member states on banning the links that run under the Baltic Sea.

On May 23, 2025, US President Donald Trump criticized the UK’s approach to taxing North Sea oil and gas, stating it discouraged drilling and raised energy prices. He suggested Britain should stop using windmills and incentivize modernized drilling in the North Sea.

On 2025-05-23, China's antitrust regulator approved a $6.9 billion acquisition of 48 shopping malls under Dalian Wanda Commercial Management Group Co. led by PAG. Investors include Tencent Holdings Ltd., Sunshine Life Insurance Corp., and a vehicle backed by JD.com Inc.

On 2025-05-23, it was reported that Bulgaria is on track to win EU approval to adopt the euro in January 2026, according to Slav Okov.

On May 23, 2025, President Donald Trump announced a partnership between United States Steel Corp. and Japan’s Nippon Steel Corp. Shares of US Steel surged as much as 26% following the announcement.

Jamie Diamond commented that a generation of investors have been conditioned to a bounce and high yield spreads are around 350 basis points.

As of May 23, 2025, money markets are pricing 65 basis points of additional easing from the European Central Bank in 2025. Traders favored three quarter-point reductions at the remaining five scheduled decisions.

On May 23, 2025, Bank of America Corp.’s Michael Hartnett advised investors to buy long-dated Treasuries, citing potential government action on debt concerns following bond vigilante warnings. Hartnett highlighted the 30-year Treasury note's yields above 5% as a favorable entry point.