Concerns regarding tariffs and trade rhetoric faded a bit in the second half of the week in the U.S., which gave way to decent economic data and a strong start to the earnings season. The S&P 500 and NASDAQ hit record highs (again). Yields were under modest pressure at the long end of the curve.

The 1Q2025 is in the bag, not an easy quarter. US stocks performed poorly, but gold and European stocks did well. Treasuries also did ok.

Most focus this week was on the FOMC decision, which was initially viewed as slightly dovish before reality sat in. Markets were mixed.

For investors, it is not easy staying focused these days on the substantive economic and business data that matter for your portfolio....

Last week was the second week running that the start of the week was characterised by turmoil, this time caused by tariff threats.  Mr...

UK autumn budget, earnings galore (including five "Mag 7" companies), and gobs of economic data...just as we lead into the US election!!

Markets were jittery much of the week, with the rotation out of tech continuing in the US. US Treasuries were also under pressure.

European and most US equity indices better, with UST yields widening across the curve. Focus in on elections in the UK and Europe.

Seven months into the year, many of my Y/E forecasts for indices and other assets look like they will be wrong. I am in good company!