Charlie Gasparino: “It is the White House who capitulated”
Gasparino: Trump “had no choice”
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From the April 9, 2025, edition of Fox News' America Reports
SANDRA SMITH (ANCHOR): Charlie, I know that you are tightknit in the trading community, you talked to a lot of people. I know you were overnight as well, when it comes to the treasury market. And while we all want the American stock market to thrive and we want retirement accounts to go up, there are a lot of players in this market who may have gotten caught the wrong way here. I mean, because you have to think there was a lot of people who were trying to sell this market short, thinking that it may only get worse 'til it gets better.
CHARLES GASPARINO (FOX BUSINESS SENIOR CORRESPONDENT): Well, I mean, because of the mixed messaging, how can you doubt them? I mean, let's be clear what happened, who capitulated here, and why? And, you know, I don't want to say this, because I am a patriot, I'm an American, but it is the White House who capitulated, based on everything I hear, and all of my sources. And the reason why is because of the bond market and what happened last night. You know, Bessent knows this better than anybody, when you have yields on the 10-year rising to 5%, stuff starts shutting down when you have the lending market screwed up. By the way, who's dumping the bonds? Somebody asked him if it was China, right? It wasn't, it was Japan. While he was negotiating with Japan, Japan, according to my sources, were running major money management firms that are involved in the bond market, without giving up names. Japan was dumping bonds because they believed this was not a great place to do business. That forced their hands.
Now, what you can say, I think, legitimately here is, Trump decided to take the win and here's why. There was overwhelmingly, you know, deal potential here among the entire world, except for maybe China, right? Everybody really wanted something. So, he did take the win, but make no mistake about it, Peter Navarro was talking, as of yesterday, about not taking the win, and now they did. And it's all because of the bond market.
I want to point out one other thing, because of China, there will not be a TikTok deal, okay? The White House has confirmed to me that is basically off the table.
SMITH: If we were to close at these levels, apparently this would be the biggest stock market rally -- American stock market rally in five years. Just to give you some --
GASPARINO: We'll take that. Take that. Take that W.
DAVID ASMAN (FOX BUSINESS ANCHOR): Exactly. And remember, it was Donald Trump. I mean, even Charlie focusing on the bond market says, it was Donald Trump who took it. And he has this sense of timing. He knows to take it right to the edge. He took it right to the edge, and then he pulled back.
GASPARINO: David, he had no choice, he had no choice. Unfortunately, no choice.
ASMAN: Well, the bottom line is he did it right to the edge and pulled back.
GASPARINO: Well, yeah, you could look at that way, or you could look at it, the gun was at his head. What happened last night was very bad.