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On Holding (NYSE:ONON) Stock, Chaîne d'Options

On Holding

On Holding AG is a premium performance sports brand rooted in technology, design, and impact. Its shoes, apparel, and accessories products are designed predominantly for athletic use, casual, or leisure purposes. It does not manufacture the products or the raw materials and relies instead on third-party suppliers and contract manufacturers. Geographically, it derives a majority of its revenue from the Americas and rest from Europe, Middle East and Africa and Asia-Pacific region.

On Holding AG

After reporting better-than-expected <a href="https://www.benzinga.com/25/04/44791428/goldman-sachs-q1-beats-consensus-equity-ficc-revenues-drive-growth-declares-40b-buyback">first quarter results</a>, Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) highlighted in its earnings call that the bank navigated the market volatility with record equity revenue and warned about &#8220;material risks&#8221; to the U.S. and global economies amid the ongoing trade war.
What Happened: Goldman Sachs navigated a quarter of &#8220;rapidly shifting sentiment&#8221; to deliver robust first-quarter 2025 results, highlighted by a record $4.2 billion in equities net revenue, according to its Chairman and CEO, David Solomon.
The firm capitalized on market volatility, driven by policy uncertainty and repositioning by clients, to achieve strong performance in its Global Banking &amp; Markets division. Solomon emphasized the strength of their global franchise and risk management capabilities in supporting client needs during this period.
While the trading desks thrived, the firm also sounded a note of caution regarding the broader economic outlook amid the ongoing tariff battle driven by U.S. trade policies under President Donald Trump&#8216;s administration. Solomon highlighted growing concerns among clients, including corporate CEOs and institutional investors, about the &#8220;significant near-term and longer-term uncertainty&#8221; stemming from potential trade wars.
He specifically noted that these fears pose &#8220;material risks to the U.S. and global economy,&#8221; even as the administration pursues a more gradual policy process.
Despite the volatile backdrop impacting investment banking activity, Goldman Sachs maintained its leading position in mergers and acquisitions for the 20th consecutive year, with a growing backlog suggesting potential for future dealmaking.
The Asset &amp; Wealth Management division also saw continued growth, with assets under supervision reaching a record $3.2 trillion and a 29th consecutive quarter of long-term fee-based net inflows.
See Also: <a href="https://www.benzinga.com/general/market-summary/25/04/44783093/mark-cuban-examines-trumps-tariff-exemptions-rationale-on-electronics-thats-billions-of-revenue-for-the-usa">Mark Cuban Examines Trump&#8217;s Tariff Exemptions Rationale On Electronics: &#8216;That&#8217;s Billions Of Revenue For The USA&#8217;</a>
Why It Matters: Revenue of $15.06 billion, up 6% year-over-year, <a href="https://www.benzinga.com/25/04/44791428/goldman-sachs-q1-beats-consensus-equity-ficc-revenues-drive-growth-declares-40b-buyback">beat the consensus</a> of $14.81 billion. Net interest income rose to $2.90 billion, up from $1.37 billion a year ago quarter, and it recorded earnings of $14.12 per share, beating the consensus of $12.35.
Looking ahead, Goldman Sachs acknowledged the &#8220;markedly different operating environment&#8221; entering the second quarter, with GS economists significantly downgrading U.S. growth expectations from over 2% to 0.5%, while also increasing recession probabilities.
Price Action: Goldman Sachs stock ended 1.93% higher at $503.98 on Monday, while the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), tracking the S&amp;P 500 index, rose 0.97%.
GS was down by 12.35% on a year-to-date basis, whereas it was up 25.72% over a year.
Benzinga Edge Stock Rankings indicate that GS has a weaker price trend over the short, medium, and long term. Its momentum ranking was solid at the 85.89th percentile, whereas its growth and quality rankings were moderate. More details on the fundamentals are <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">available here</a>.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/report/GS"><img loading="lazy" decoding="async" width="972" height="153" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/15020735/gs-eDGE.png" alt="" class="wp-image-871358" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/15020735/gs-eDGE.png 972w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/15020735/gs-eDGE-300x47.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/15020735/gs-eDGE-768x121.png 768w" sizes="(max-width: 972px) 100vw, 972px" /></a></figure>
Benzinga&#8217;s <a href="https://www.benzinga.com/quote/GS/analyst-ratings">analysis of 23 analysts shows a consensus</a> &#8220;buy&#8221; rating for the stock, with an average price target of $534.64, ranging from $351 to $760. Recent ratings from JMP Securities, JP Morgan, and Evercore ISI Group average $602.67, suggesting a 20.04% potential upside.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/quote/GS/analyst-ratings"><img loading="lazy" decoding="async" width="1024" height="389" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/15020714/gs-anr-1024x389.png" alt="" class="wp-image-871357" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/15020714/gs-anr-1024x389.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/15020714/gs-anr-300x114.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/15020714/gs-anr-768x292.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/15020714/gs-anr.png 1138w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Photo Courtesy: Sergei Elagin on Shutterstock.com
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<li><a href="https://www.benzinga.com/25/04/44787213/jim-cramer-predicts-short-sellers-to-attack-nvidia-and-apple-after-a-rally-only-way-they-can-get-out-of-this-mess">Jim Cramer Warns Nvidia And Apple Shorts May Let Stocks Rally Before Striking Again: &#8216;Only Way They Can Get Out Of This Mess&#8217;</a></li>
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Analyst Color

Earnings

Earnings Beats

Equities

Government

Macro Economic Events

Macro Notification

Market Summary

News

Regulations

Broad U.S. Equity ETFs

Guidance

Economics

Markets

Analyst Ratings

ETFs

General

Goldman Sachs Warns Of 'Material Risks' To US And Global Economy Amid Trade War, As Record Equity Revenue Drives Strong Q1 Results

Following is a summary of the changes that will take place prior to the open of trading on the effective date:
<figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="1" rowspan="1">Effective Date</td>
<td colspan="2" rowspan="1">Index Name&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td colspan="1" rowspan="1">Action</td>
<td colspan="1" rowspan="1">Company Name</td>
<td colspan="1" rowspan="1">Ticker</td>
<td colspan="1" rowspan="1">GICS&nbsp;Sector</td>
</tr>
<tr>
<td colspan="1" rowspan="1">April 17, 2025</td>
<td colspan="1" rowspan="1">S&amp;P SmallCap 600</td>
<td colspan="2" rowspan="1">Addition</td>
<td colspan="1" rowspan="1">Sterling Infrastructure</td>
<td colspan="1" rowspan="1">STRL</td>
<td colspan="1" rowspan="1">Industrials</td>
</tr>
<tr>
<td colspan="1" rowspan="1">April 17, 2025</td>
<td colspan="1" rowspan="1">S&amp;P SmallCap 600</td>
<td colspan="2" rowspan="1">Deletion</td>
<td colspan="1" rowspan="1">Patterson Companies</td>
<td colspan="1" rowspan="1">PDCO</td>
<td colspan="1" rowspan="1">Health Care</td>
</tr>
</tbody>
</table>
</figure>

PDCO

STRL

Reported Earlier, Sterling Infrastructure To Join S&P SmallCap 600, Replacing Patterson Companies Amid Pending Acquisition

Reported Earlier, Trilogy Metals Files $50M Base Shelf Prospectus In Canada And Effective Shelf Registration In U.S. For Future Securities Offerings

Econ #s

INDA

India Wholesale Price Index (WPI) Inflation (YoY) For March 2.05% Vs. 2.50% Est.; 2.38% Prior

<ul>
<li>Public company to operate under new name and concentrate on building, acquiring and operating fertility clinics and the distribution of FDA-cleared INVOcell device</li>
<li>Private company to operate as NAYA Therapeutics and focus on clinical development of bifunctional antibodies</li>
</ul>

NAYA

Reported Earlier, NAYA Biosciences Rebrands As INVO Fertility, Separates Fertility And Oncology Divisions Into Distinct Public And Private Entities

The CT4022/32 expand Allegro's high-precision XtremeSense TMR current sensing portfolio by measuring current flowing through an integrated conductor and rejecting interference from external stray magnetic fields. The sensors are tailored for clean energy systems, where maximizing power conversion efficiency is critical. Integrated galvanic isolation enables low-side, high-side or in-line current sensing in applications up to 1000V.

ALGM

Reported Earlier, Allegro MicroSystems Launches CT4022/32 TMR Sensors To Boost Efficiency In Clean Energy Systems And EV Chargers

France Harmonised Index of Consumer Prices (MoM) For March 0.2% Vs. 0.2% Est.; 0.1% Prior

France Consumer Price Index (MoM) For March 0.2% Vs. 0.2% Est.; 0.0% Prior

Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) and General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) are at high risk for receiving negative ratings from ratings agency S&amp;P amid the uncertainty surrounding the Trump administration's <a href="https://www.benzinga.com/markets/equities/25/04/44578839/trumps-25-tariff-on-imported-vehicles-could-shatter-detroits-auto-economy-warns-business-leaders-it-will-hurt-hardworking-americans">auto tariffs</a>.
What Happened: The ratings agency released a report on Monday, first <a href="https://www.bloomberg.com/news/articles/2025-04-14/s-p-sees-high-risk-to-ford-gm-ratings-if-auto-tariffs-go-ahead">noted</a> on Bloomberg, citing the 25% auto tariffs on car manufacturers by the Trump administration as the reason for the risk. Interestingly, cars assembled in Mexico and Canada subject to more intricate and complex tariffs based on where the parts were imported from.
The automotive industry involves a complex, multi-national supply chain, with car manufacturers importing parts from various countries across the globe. Ford is currently rated BBB- while GM boasts a BBB rating, according to the agency.
Analysts pointed out that the forecasts carry a ‘significant amount of uncertainty' given the Trump administration's volatility with the tariffs. The report also mentioned a 2% decline in the cumulative U.S. auto sales as well as a price increase of about 5-10% for consumers.
Why It Matters: The report comes at a time when Trump and the government have been on the receiving end of <a href="https://www.benzinga.com/25/04/44729157/michigan-auto-groups-criticize-trump-for-not-halting-auto-tariffs">criticism from stakeholders</a> in the auto industry due to the tariffs.
A <a href="https://www.benzinga.com/25/04/44756759/new-research-shows-donald-trumps-25-tariffs-could-cost-auto-companies-108billion-report">recently released report</a> suggests that the tariffs could cost the auto industry over $108 billion, highlighting the magnitude of the administration's decision amid a temporary 90-day halt on most tariffs.
However, the president indicated that he wanted to support and help car companies navigate the trade changes. Trump's comments were well-received by the market as U.S. auto stocks <a href="https://www.benzinga.com/25/04/44798727/auto-stocks-rise-on-trumps-comments-about-supporting-us-car-companies-whats-going-on">experienced a surge in value </a>following his statement to the media.
Price Action: GM is currently trading at $45.14 on the NYSE, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Photo Courtesy: Mike Mareen On Shutterstock.com
Check out more of Benzinga&#8217;s Future Of Mobility coverage by <a href="https://www.benzinga.com/topic/mobility">following this link.</a>
Read Next:
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<li><a href="https://www.benzinga.com/25/04/44802015/us-electric-vehicle-sales-up-11-in-q1-as-tesla-declines-the-winners-and-losers">Tesla Loses Steam In Q1 While US EV Sales Climb: The Winners And Losers</a></li>
</ul>

FORD

STLA

Trump Tariffs Could Put Ford, GM At 'High Risk' Of Negative Ratings: Report

Amid the ongoing <a href="https://benzinga.com/markets/equities/25/04/44755714/trump-shrugs-off-chinas-cutback-on-us-films-amid-ongoing-tariff-tensions-ive-heard-of-worse-things">U.S.-China trade war,</a> Chinese President Xi Jinping has embarked on a diplomatic tour of Southeast Asia, advocating for free trade and unity against &#8220;unilateral bullying.&#8221;What Happened: Xi Jinping reached Vietnam on Monday, marking the beginning of his diplomatic tour of the region&#8217;s major export-dependent economies. Later this week, the Chinese leader is scheduled to visit Malaysia and Cambodia, countries that have witnessed an increase in trade relations with China lately, <a href="https://www.scmp.com/news/china/diplomacy/article/3306519/chinas-xi-urges-solidarity-vietnam-meetings-against-us-unilateral-bullying?module=top_story&amp;pgtype=homepage">reported </a>The<a href="https://www.scmp.com/news/china/diplomacy/article/3306519/chinas-xi-urges-solidarity-vietnam-meetings-against-us-unilateral-bullying?module=top_story&amp;pgtype=homepage"> </a>South China Morning Post.
During his meetings with Vietnam&#8217;s President To Lam and Prime Minister Pham Minh Chinh, Xi encouraged the country to stand against &#8220;unilateral bullying&#8221; and to uphold free and open trade. He reiterated China&#8217;s commitment to preserving &#8220;the&nbsp;stability of the global free&nbsp;trade system and industrial and&nbsp;supply chains,&#8221; as <a href="https://h.xinhuaxmt.com/vh512/share/12495598?d=134ff2e">reported </a>by&nbsp;Xinhua, the Chinese state news agency.
"Isolated small boats cannot withstand stormy waves. Only by working together on the same boat can we sail steady and far,&#8221; Xi&nbsp;stated as he called for Vietnamese support. 
Meanwhile, when asked about the China-Vietnam meeting, Trump told reporters, "That's a lovely meeting — meeting like, trying to figure out: ‘How do we sc&#x2A;&#x2A;w the United States of America?' Don't forget, the European Union was formed to do just that."
SEE ALSO:&nbsp;<a href="https://benzinga.com/news/25/04/44794639/ironically-because-of-all-the-new-tariffs-its-now-way-cheaper-to-make-our-chocolate-bars-outside-the-us-says-mrbeast" target="_blank" rel="noreferrer noopener">Ironically, Because Of All The New Tariffs, It&#8217;s Now Way Cheaper To Make Our Chocolate Bars Outside The US,&#8217; Says MrBeast &#8211; Benzinga</a>
Why It Matters: This tour follows U.S. President Donald Trump&#8216;s recent decision to temporarily suspend his &#8220;reciprocal&#8221;&nbsp;tariffs on most countries for&nbsp;90 days, thereby shifting the spotlight onto the<a href="https://www.benzinga.com/news/25/04/44778488/as-trump-intensifies-tariff-war-with-china-global-economy-feels-the-tremors-whats-the-endgame-here"> U.S.-China trade war.</a>
Vietnam has seen a sharp rise in Chinese investments as manufacturers shift supply chains from China to benefit from lower labor costs and avoid U.S. tariffs. Between 2017 and 2024, trade between the two nations nearly doubled, making Vietnam China&#8217;s top trade partner in Southeast Asia. However, concerns are growing in the region about an influx of cheap Chinese goods, which face high tariffs in the US. China currently runs a trade surplus with Vietnam, exporting 1.6 times more than it imports.
Southeast Asian nations, still affected by the recently <a href="https://benzinga.com/news/global/25/04/44700937/us-companies-stick-with-china-as-trump-tariffs-take-effect-report">suspended U.S. tariffs,</a> are growing increasingly concerned about being caught in the crossfire of tensions between the U.S. and China.
Wen-ti Sung, a non-resident fellow at the Atlantic Council, told CNN, &#8220;What Xi is trying to do now is to go there in person. Instead of fear and pressure, Xi is going to show them love, maybe some ‘souvenirs' along the way," he said, alluding to potential new trade deals and enhancements to their strategic partnerships.
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<li>READ MORE:&nbsp;<a href="https://benzinga.com/trading-ideas/movers/25/04/44804881/bitcoin-ethereum-steady-dogecoin-falls-even-as-trumps-tariff-reprieve-boosts-stocks-analyst-says-82024-btc-level-worth-watching-closely" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum Steady, Dogecoin Falls Even As Trump&#8217;s Tariff Reprieve Boosts Stocks: Analyst Says $82,024 BTC Level &#8216;Worth Watching Closely&#8217; &#8211; Grayscale Bitcoin Mini Trust (BTC) Common units of fra</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

As Xi Jinping Urges Vietnam To Stand Against 'Unilateral Bullying,' Trump Labels The Meeting A Plot Against US

Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) aims to more than double its market capitalization to $1 trillion by 2030, showcasing ambitious growth targets that underscore its position as the world&#8217;s leading streaming service.
What Happened: During its annual business review meeting last month, executives shared plans to double revenue from $39 billion last year and generate approximately $9 billion in global ad sales by 2030, The Wall Street Journal <a href="https://www.wsj.com/business/media/netflix-aims-to-join-the-1-trillion-club-fdacb250">reported</a>, citing sources. The company also targets tripling its operating income from $10 billion in 2024.
Netflix, currently valued at nearly $400 billion with shares up over 50% in the past year, has strengthened its <a href="https://www.benzinga.com/news/earnings/earnings-misses/24/01/36751622/netflixs-co-ceo-says-thrilled-with-password-sharing-crackdown-sees-positive-impact-">financial position through password-sharing crackdowns</a>, strategic price increases, and its growing advertising business. Research firm eMarketer estimates U.S. ad revenues will exceed $2.15 billion this year.
The streaming giant expects to grow its global subscriber base from 301.63 million to approximately 410 million by 2030, with particular focus on international markets with high broadband penetration like India and Brazil.
Netflix did not immediately respond to&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
See Also: <a href="https://www.benzinga.com/markets/equities/25/04/44805507/jensen-huang-praised-by-trump-nvidia-wouldnt-be-doing-500-billion-ai-infrastructure-commitment-without-tariffs">Jensen Huang Praised By Trump: Nvidia &#8216;Wouldn&#8217;t Be Doing&#8217; $500 Billion AI Infrastructure Commitment Without Tariffs</a>
Why It Matters: Despite concerns about President Donald Trump&#8216;s tariffs potentially causing economic recession, Netflix executives expressed confidence that streaming could prove resilient if consumers opt to stay home rather than spend on outside entertainment. 
Netflix continues investing in technology innovation, recently testing an OpenAI-powered search engine in Australia and New Zealand that allows subscribers to discover content based on emotions rather than just titles. The feature is expected to <a href="https://www.benzinga.com/25/04/44778760/netflix-debuts-openai-backed-search-engine-that-lets-you-discover-movies-and-tv-shows-based-on-emotions-not-just-titles">expand to U.S. users in the coming weeks</a>.
Analyst YR Research recently identified Netflix as a promising investment amid market volatility, citing its digital business model and strong value proposition. The company&#8217;s engagement metrics reached record levels in the first quarter of 2025, with Top 10 views increasing 7.6% year-over-year, representing the <a href="https://www.benzinga.com/25/04/44662003/netflix-seen-as-safe-bet-amid-market-volatility-says-analyststrong-value-digital-model-make-it-recession-ready">fastest growth in the company&#8217;s tracking history</a>.
Price Action: Netflix closed at $931.28 on Monday, 2025, up 1.41% for the day. After hours, the stock increased to $943.50, gaining 1.31%.
According to Benzinga Edge Stock Rankings, Netflix is experiencing strong momentum and growth but falls short in quality and short- to medium-term price trends. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Sign up to learn more</a>.
Photo Courtesy: FP Creative Stock on Shutterstock.com
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<li><a href="https://www.benzinga.com/markets/equities/25/04/44805317/amd-set-to-begin-chip-production-at-tsmcs-arizona-plant-as-n2-development-advances">AMD CEO Lisa Su Confirms AI Server Production in US, Taps TSMC Arizona For Chips As &#8216;Venice&#8217; Hits 2nm Milestone Amid Tariff Uncertainty</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Media

NFLX

Netflix Eyes $1 Trillion Market Cap By 2030, Aims To Double Revenue And Dominate Global Streaming: Report

The Company intends to use the proceeds from the Offering for: i) the purchase of new vehicles; ii) acquisitions and business alliances; iii) an IT systems upgrade; and iv) general working capital.

IPOs

HXHX

Reported Earlier, Haoxin Holdings Prices $7M Initial Public Offering Of 1.75M Class A Ordinary Shares At $4/Share

Reported Earlier, Cue Biopharma Prices $20M Public Offering Of Common Stock And Warrants At $0.79

<ul>
<li>Three new innovative instrument launches expand reach into further lab segments and sample preparation customers as QIAGEN strengthens market-leading position</li>
<li>QIAsymphony Connect set to start phased launch in 2025, first customer sessions being held to highlight enhanced capabilities for oncology and genomics workflows</li>
<li>QIAsprint and QIAmini on track for 2026 launches, expanding options for high- and low-throughput lab demands</li>
</ul>
 &nbsp;

QGEN

QIAGEN To Launch Three New Sample Prep Instruments By 2026, Expanding Automation From Low To High Throughput Labs

GLPG

Galapagos CFO And COO Thad Huston To Depart August 1, 2025; Company To Name New CFO In Coming Months

Sanofi's respiratory pipeline advances with new data in asthma and plans for new clinical studies in COPD
<ul>
<li>New phase 2 data for amlitelimab show efficacy in heterogeneous inflammatory asthma</li>
<li>Lunsekimig now targeting chronic rhinosinusitis and COPD in addition to asthma</li>
<li>Itepekimab expanding into chronic rhinosinusitis along with COPD and bronchiectasis; phase 3 readouts in COPD in H2 2025 and bronchiectasis in 2026</li>
</ul>

Sanofi's Amlitelimab Shows Clinically Meaningful Efficacy In Phase 2 Asthma Study, Phase 3 Program In Planning

This strategic acquisition accelerates Recharge's expansion into the B2B digital rewards market, unlocking new opportunities for growth.

GRPN

Groupon Sells Giftcloud To Recharge, Enabling Prepaid Leader's Expansion Into B2B Digital Rewards And Loyalty

The establishment of this office reflects the role of Abu Dhabi as a leading business and financial center globally and underscores Lazard's commitment to deepening its presence in MENA and serving as a trusted advisor to clients across the region

Lazard Establishes Abu Dhabi Office As Financial Advisory Base In UAE, Reinforcing Its MENA Presence

On Monday, economist Peter Schiff provided a counter-narrative to the claim that China won't sell U.S. Treasuries.
What Happened: In a short post on X, Schiff challenged claims that China &#8220;won&#8217;t sell [U.S.] treasuries as doing so would strengthen the Yuan,&#8221; resulting in further damage to the attractiveness of the nation&#8217;s exports.
See More: <a href="https://www.benzinga.com/markets/equities/25/04/44805507/jensen-huang-praised-by-trump-nvidia-wouldnt-be-doing-500-billion-ai-infrastructure-commitment-without-tariffs">Jensen Huang Praised By Trump: Nvidia &#8216;Wouldn&#8217;t Be Doing&#8217; $500 Billion AI Infrastructure Commitment Without Tariffs</a>
Schiff cites the high 145% tariff that the U.S. has already levied on China, due to which a weaker Yuan will not &#8220;move the needle.&#8221; Meaning that regardless of whether the Renminbi strengthens or weakens against the U.S. dollar from this point, Chinese exports are essentially priced out of American markets due to the tariffs.
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Many claim China won&#39;t sell Treasuries as doing so would strengthen the yuan, which they say would just further damage China&#39;s exports. But U.S. tariffs are now so high that a weaker yuan won&#39;t move the needle. China is better off with a stronger yuan to improve domestic demand.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1911764315792720183?ref_src=twsrc%5Etfw">April 14, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
He added that China is &#8220;better off with a stronger Yuan to improve domestic consumption,&#8221; as this will lead to a rise in consumer purchasing power, and thus higher domestic demand.
Schiff also made a subtle reference to the U.S. misstep on <a href="https://www.benzinga.com/news/25/04/44778488/as-trump-intensifies-tariff-war-with-china-global-economy-feels-the-tremors-whats-the-endgame-here">tariff escalations</a>, with it now having reached a point where any additional levies beyond 145% are meaningless. China, on the other hand, still holds $760 billion worth of U.S. Treasuries, providing it with significant leverage.
Why It Matters: According to Philipp Ivanov, the founder of Geopolitical Risks &amp; Strategy Practice (GRASP), the dumping of U.S. treasuries by China would be an &#8220;extreme response&#8221; and would be unlikely for now. 
&#8220;It will do quite a significant damage to the United States, but the damage to China might be even bigger,&#8221; he said <a href="https://www.cnbctv18.com/world/will-china-trigger-the-nuclear-option-in-tariff-war-19587038.htm">to</a> CNBC TV18, before adding that it would be the country&#8217;s &#8220;last resort.&#8221;
China&#8217;s $760 billion in U.S. Government bonds is clearly a bargaining chip, which can spike yields if sold aggressively, especially with the Treasury planning to issue $2 trillion in new debt this year, in addition to rolling over another $8 trillion in maturing bonds, according <a href="https://www.bloomberg.com/opinion/articles/2025-04-13/why-wouldn-t-china-weaponize-its-760-billion-treasury-holdings">to</a> a report by Bloomberg.
However, according to Mark Williams, the chief Asia economist at Capital Economics, trying to get rid of that much debt this quickly would &#8220;backfire hard.&#8221; Williams compares this tactic to &#8220;lobbing a hand grenade at someone sitting across from you in a room,&#8221; speaking <a href="https://www.telegraph.co.uk/business/2025/04/07/nuclear-option-china-could-take-in-trade-war-with-us/">with</a> the Telegraph.
Price Action: At the time of writing, US 3-year, 10-year, and 30-year treasuries have seen their yields rise by 3, 21, and 28 basis points, respectively, since the beginning of this month, amidst a rout in the equity markets.
Photo Courtesy: Bori Slim On Shutterstock.com
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Bonds

Peter Schiff Counters Claims China Won't Sell US Treasuries Fearing  Strong Currency, But A Strong Yuan Might Suit Beijing

Segments&nbsp;
There remains increased uncertainty on the outlook for Q2 2025, both in terms of potential for further tariff changes as well as in the broader macroeconomic environment.&nbsp;
Networks&nbsp;
Sales growth in Q2 2025 is expected to be broadly similar to 3-year average seasonality. Based on our current assessment of announced tariffs, and including a negative impact from tariffs estimated at approximately 1 percentage point, adjusted gross margin in Q2 is expected to be in the range of 48% to 50%.

ERIC

Ericsson For Q2 Expects Tariff Pressure To Trim Margins, Network Sales To Track Seasonality Amid Broader Uncertainty; Sees Adj. Gross Margin Of 48%-50%

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