Brian Morrissey resigned amid news that the Treasury Department is set to oversee the payout of nearly $1.8 billion for an "Anti-Weaponization Fund," created by the DOJ.

The news shows Japan and China cutting US Treasuries (Japan -4%, China -6% in March), which is a direct headwind to Treasury demand and supports higher yields, especially in the belly (7–10y). Key Risk: A sudden rebound in Japan/China buying (or a broad risk-off rush into Treasuries) that drives yields back down.

A widely circulated article claimed paper money would be swapped for "TrumpCoin" and a line of gold coins embossed with the president's likeness.

“Iran’s shadow banking system facilitates the illicit transfer of funding for terrorist purposes,” said Scott Bessent, Secretary of the Treasury.

Treasury Sanctions Iran Shipping, Banking Networks