Tariff threats reentered the conversation on Friday from President Trump. Charles Schwab's Michelle Gibley talks about what makes the rare earth-centric conversations between Trump and China's Xi Jinping so critical to the future of a trade deal. Michelle tells U.S. investors to watch the Bank of Japan's interest rate story, highlighting key distinctions between the two countries and the market paths they present. Cooper Howard offers a big picture perspective of the municipal bond market as volatility ramps higher.