Host (Marketplace)

Markets inflect as the president speaks.

Beyond ruling out using force to acquire Greenland from Denmark, President Trump right now is touting his use of tariffs to disrupt the global trading system as a win-win for the world.

He's speaking now to business and political leaders gathered at the Swiss ski resort of Davos now, referring to outlines of trade deals with, for instance, Japan, South Korea and the European Union.

Those deals are outlines with final details still in flux.

In fact, European Union lawmakers today froze discussions on the U.S.-EU trade deal after Trump's threats to raise tariffs on some EU countries who oppose his Greenland aspirations.

Trump also just said Greenland is not about its rare minerals.

Yesterday, there was a sell-off in stocks, with the Nasdaq dropping 2.4 percent, and also in the bond market, pushing the 10-year interest rate to its highest level since last summer.

The average 30-year fixed-rate mortgage moved up sharply from 6.07 to 6.21 percent, using Mortgage News Daily's calculation.

Guy Labat is chief fixed-income strategist at Jannie Montgomery Scott.

In the financial world, I'm hearing more talk of what's a bit cynically dubbed a return to the sell America trade.

What is that?

And it sounds like you don't really see that happening on a significant scale yet.

All right.

So you're urging us to be a little bit careful thinking about the Greenland issue causing

U.S.

consumers to pay higher credit card and maybe home loan rates.

I mean, it is a much more complicated world.

Guy Labar, Chief Fixed Income Strategist at Jenny Montgomery Scott.

Thank you so much.

Thank you, David.