Investors have been stunned by US tariff moves in the first quarter of 2025 and risk assets have been paying the price. As we come into the new week, there is a new anticipation around reciprocal tariffs out of the US in response to retaliatory measures from US trading partners. read report
The central focus in financial markets continues to be on impact and fallout from US administration policies. Investors have been trying to find confidence in recent sessions but have yet to succeed in getting past all of the stress around the unpredictability of Trump. read report
An unproductive meeting between the US and China on trade has rattled investors once again. Of course, the market is also back to worrying about the trade outlook overall, this after President Trump signed a proclamation to implement a 25% tariff on auto imports to come into effect April 2. read report
A round of discouraging survey data out of the US on Tuesday has fueled more selling of the US Dollar as the market prices in increased odds for recession. Philly Fed services and consumer confidence polls plunged to post-pandemic lows while consumer expectations faltered on worry over personal finances. read report
The big story in markets this week has been diffused tension around US tariffs on the news that they would be more targeted. Ultimately, this has helped to inspire renewed demand for beaten down stocks and a flow back into risk assets across the board. read report
We come into the new week with the market waiting for more clarity on the US administration’s April 2nd tariff deadline. The latest speculation is that the tariffs could be narrower than expected which has inspired a risk on reaction as equity markets recover. read report
The fact that all four central banks that met this week came out with the same warnings around global trade uncertainties has been enough to keep investors from wanting to get too excited. Key standouts on Friday’s calendar for the remainder of the day come from UK public sector net borrowing, the Eurozone current account, UK CBI trends, Canada housing data, and Canada retail sales. read report
