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U.S. equities closed the week significantly lower, with major indices recording their steepest declines since the tariff-driven sell-off in early April. The downturn followed the expiration of President Trump’s 90-day moratorium on proposed “reciprocal” tariffs, compounded by the release of a weaker-than-expected July employment report. All three major indexes ended the week in negative territory: […]

The US and Japan announced a broad trade agreement on Tuesday that lowers tariffs on Japanese exports, including autos, from 25% to 15%, while granting tariff-free access for US goods into Japan. As part of the deal, Japan committed to $550 billion in equity, loans, and loan guarantees to support US-bound investment - a component […]

In June, U.S. consumer and producer price data hinted at the early effects of rising tariffs, but overall figures remained modest, suggesting a minimal impact so far. Inflation expectations continued to ease, with the University of Michigan’s year-ahead gauge falling to a five-month low of 4.4%. Retail sales exceeded forecasts, with core sales up 0.5%, […]

Global markets were rattled this week by renewed trade tensions, with President Trump confirming the imposition of 25% tariffs on Japanese and South Korean imports from 1 August. Fourteen other countries - including South Africa - have been warned of similar hikes unless trade concessions are made. While the White House extended its original tariff […]

June saw a robust recovery across global equity markets as geopolitical tensions eased and investors welcomed signs of progress on trade, especially between the U.S. and China. U.S. tech stocks led the charge, helping the S&P 500 and Nasdaq reach fresh record highs. While inflation remains sticky in parts of the developed world, softer economic […]

Eurozone inflation edged up in June, with the headline rate reaching the ECB’s 2.0% target, up from 1.9% in May. Core inflation remained steady at 2.3%, signalling persistent underlying price pressures. Services inflation rose slightly to 3.3% from 3.2%, underscoring ongoing challenges in bringing inflation sustainably to target. U.S. lawmakers made meaningful progress on the […]

U.S. stocks rallied over the week, lifted by a string of positive developments, including easing tensions in the Middle East, dovish signals from several Federal Reserve officials, news of a signed U.S.-China trade deal and indications from U.S. policymakers that further trade deals were nearing completion. The S&P 500 gained 3.4% and the Nasdaq rose […]

The Federal Reserve held interest rates steady at 4.25%–4.5% for a fourth consecutive meeting, maintaining a cautious stance amid persistent economic uncertainty. Policymaker projections revealed a growing divide, with half expecting no rate cuts this year and the other half still pencilling in two. Chair Jerome Powell reiterated that while the U.S. economy remains resilient, […]

The US May consumerprice data surprised on the downside. Headline CPI rose 0.1 % m/m (consensus: 0.3 %) and 2.4 % y/y, while core CPI held steady at 2.8 % y/y. The first full month of new import tariffs had only a marginal impact on coregoods prices. Consequently, market expectations for Federal Reserve policy were little changed.  Brent crude rallied on Friday, settling […]

Eurozone GDP grew by 0.6% quarter-on-quarter in Q1, double the initial estimate and the fastest pace since Q3 2022. According to Eurostat, the upward revision was led by stronger growth in Ireland and Germany. Inflation eased in May, with headline CPI falling to 1.9% from 2.2% and core inflation moderating to 2.3%, indicating softer underlying […]