Policy Shifts

• The Department of Homeland Security appointed a new acting director for Immigration and Customs Enforcement, marking a leadership change during the administration's ongoing immigration policy overhaul. • The appointment comes as the administration pursues significant changes to immigration enforcement and detention practices, including closure of the 'Alligator Alcatraz' migrant detention center. • The move reflects broader reorganization at DHS as the agency implements new detention and deportation protocols.

US 10-year Treasury yields approached 4.5% on March 13, 2026, fueled by inflation worries and oil-driven pressures. This climb raises questions on potential changes to President Trump's economic policies if thresholds are breached. Markets eye bond market stress alongside equity declines for signals. Upcoming data releases could dictate Federal Reserve responses in coming months.

The American Lung Association's 24th annual State of Tobacco Control report warns of potential cuts to federal tobacco programs in 2026, as smoking remains the top preventable killer with 490,000 U.S. deaths yearly. Adult smoking rates fell to 11.6% in 2022 per CDC data, but policy changes could limit quitlines and youth protections. ALA CEO Harold Wimmer stated, 'These decisions directly affect whether people can access quitline counseling and kids are protected from next-generation products.' States are urged to bolster local efforts amid federal uncertainties.