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President Trump announced a 90-day deferral of higher reciprocal tariffs for most U.S. trading partners to facilitate negotiations. However, China was excluded from the pause, with the U.S. administration escalating tariffs on Chinese imports, first by doubling them and later increasing them to 145%. In retaliation, China imposed additional duties on U.S. goods in two […]

In light of the recent market volatility following President Donald Trump's announcement of sweeping new tariffs last week, we want to provide clarity on what’s happening, how it may impact markets, and most importantly how your portfolio is positioned to weather this period of uncertainty. MARKET OVERVIEW Global markets have reacted sharply to the U.S. […]

Stock markets fell sharply this past week following the Trump administration’s announcement of sweeping new tariffs. From 5 April, the U.S. will impose a minimum 10% tariff on all imported goods, with significantly higher rates for countries running large trade surpluses with the U.S. - China, for example, will face a 34% tariff, while the […]

The Euro Stoxx 50 Index closed -1.70% over the week as Trump’s fresh auto tariffs hurt sentiment. The blanket application was the worst-case scenario for Europe, as there had been hopes that some countries might be granted an exemption. This marked a disappointing week for European markets, which had begun positively, buoyed by favourable economic […]

The U.S. Federal Reserve held interest rates steady at 4.25% to 4.5% following its latest policy meeting, but officials signalled the possibility of two rate cuts later this year. The Fed revised its 2023 GDP growth forecast to 1.7%, from 2.1%, and raised its inflation projection to 2.7%, citing increased uncertainty driven partly by President […]

Trade tensions escalated midweek as the U.S. imposed a 25% tariff on steel and aluminium imports. In response, Canada implemented its own 25% tariffs on U.S. goods, while the European Union announced plans to impose countermeasures on $28 billion worth of American products next month, though negotiations remain possible.  U.S. stocks ended a turbulent week […]

Incoming German Chancellor Friedrich Merz backed a plan to invest over €1 trillion in defense and infrastructure, exempting defense from Germany’s strict debt limits. Initially opposed, Merz shifted his stance amid security concerns and NATO uncertainty. The announcement sent German 10-year bund yields up 30 basis points, the largest jump since 1990. Meanwhile, the EU […]

Global markets experienced heightened volatility, with the Nasdaq recording its steepest decline since September as technology stocks tumbled. The so-called "Magnificent Seven", particularly NVIDIA, suffered sharp losses, while trade tensions resurfaced as Donald Trump reaffirmed plans to impose new tariffs by March. The S&P 500 briefly erased its year-to-date gains before rebounding, as broader markets […]

After a strong start to 2025, February took a sharp turn as the world felt the full impact of Trump 2.0’s policy shift, with the announcement of tariffs targeting Canada, Mexico, and China on the very first day of the month. This sudden move stirred up global markets, causing a lot of uncertainty and sparking […]

The January Federal Open Market Committee (FOMC) minutes highlighted the need for further progress on inflation before considering rate cuts, with trade and immigration policies cited as potential factors affecting the outlook. While policymakers expect inflation to move toward 2% over time, they acknowledged that the path may be uneven. The Fed is also considering […]