The Globe and Mail reports in its Saturday edition that after a tumultuous two weeks, markets experienced an uneasy calm last week as President Donald Trump partially retreated from his tariff policies. The Globe's John Rapley writes that Mr. Trump's "Liberation Day" had caused panic, with stocks, bonds and the dollar all declining. Despite the administration's attempt to maintain confidence, the unprecedented turmoil was evident. Typically, rising bond yields boost the dollar as foreign investors seek higher U.S. Treasury rates. However, the dollar has fallen alongside bond prices, a trend usually seen during emerging-market crises. With Mr. Trump's drastic policy shift, the U.S. is no longer seen as a safe haven, raising concerns that a market crash could occur if he does not take action. Bond prices rallied last week, lowering interest rates, but this reflects growing investor concerns about a recession rather than confidence in the American government. Investors are buying bonds, expecting them to outperform other investments. If Mr. Trump cannot lower interest rates, his presidency may end up being all noise and no substance. Although there are domestic methods to reduce interest costs, each poses its own challenges.