U.S. stocks hit record highs mid-week for two days running, but softened after worst-than-expected PPI data and eroding consumer confidence, released Thursday and Friday, put a dent in the animal spirits driving risk assets higher. UST yields rose, remaining stubbornly high and not very connected to what the FOMC might or might not do at the next FOMC meeting.

The bottom line is that global stocks ended at or near record highs again, with US Treasury yields slightly higher. The BoE – after a struggle – managed to lower its policy rate. Fitch published an interesting article on tariffs, Apple CEO Tim Cook met with the president, and the recent Pivot podcast interview with Anthony Scaramucci is very interesting.

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.

US markets responded favourably to new President Donald Trump’s first week in office, with bond yields holding steady and stock indices...

Global equities staged a nice rally last week, and government bond yields fell in the US and UK. Oil, gold and Bitcoin were all higher.

We start 2025 with a mixed picture, not surprising in that the new year consisted of a holiday week. Friday was better in US stocks.

Confident that another stellar year for U.S. stocks was coming to a close, investors were jolted from their complacency when the Federal...

Last week was mainly about the US election, which D Trump and the Republicans won in a landslide. The "Trump trade" was full on.

Chinese stimulus measures buoyed stocks globally, and US Treasuries were stable. Gold paused and oil fell. The Dollar was weaker.