On April 26, the Federal Reserve's latest Financial Stability Report, released on Friday, showed that rising global trade risks, overall policy uncertainty, and the sustainability of U.S. debt topped the list of potential risks to the U.S. financial system. This is the first time since Trump returned to the White House that the Fed has conducted a biannual survey of financial risks. Seventy-three percent of respondents said global trade risks were their top concern, more than double the number reported in November. Half of the respondents cited overall policy uncertainty as the biggest concern, up from the same period last year. The survey also found that issues related to the recent market turmoil have received more attention, with 27% of respondents concerned about the functioning of the Treasury market, up from 17% last fall. Foreign divestments of U.S. assets and the value of the U.S. dollar are also rising on the list of concerns.