Ray Dalio says a recession is likely—but not a normal one: 'We are changing the monetary order'

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• President Donald Trump announced a 90-day grace period for some tariffs after a sell-off in the bond market. But investors are still dumping bonds and the 10-year Treasury yield is leaping, fueling doubts over the asset’s long-held safe haven status.

President Donald Trump pressing pause on his sweeping reciprocal tariffs that sent stocks spiraling and ensued chaos in the bond market doesn’t appear to be much of a comfort for some. Ray Dalio, Bridgewater Associates founder, still sees a recession as a possibility.