Inflation appears to be moderating, and the US jobs market remains resilient although perhaps showing some cracks. Mr Trump used the inflation data as a reason to justify "demanding that" the Fed slash the Fed Fund rate by 100bps. Trade policy continues to zigzag, with investors starting to mostly ignore the rhetoric coming from the administration. Stocks and bonds were better through Thursday, with gold higher and the greenback weaker. The Israeli bombing of Iran overnig

This week had a double trade war "positive" for investors, excellent earnings, strong earnings and a favourable outlook from Nvidia, the 2025 Bitcoin conference in Las Vegas, the release of minutes from the last FOMC meeting, and a poor Japanese 40y bond auction.

Moody's downgraded the US, the last of the "big three" to strip the US of its triple-A rating. I suspect a muted reaction, at least initially, in the UST market. Stocks might take it worse. I also cover Walmart and its comments on tariffs.

President Trump has been in the Middle East this week with a contingent of US business leaders and his finance / economics team, cutting...

Markets are at last returning to some sense of normalcy, with the S&P 500 now clawing back all of its losses since the infamous...

Quick look to start the week with earnings, including TSLA and GOOG, Jeffrey Sachs explaining poor Trump policies and the Fed's independence

There will be no "Fed put" according to Mr Powell, which rattled markets and evoked a response from Mr Trump. US equities slumped again.

The first quarter was actually quite decent for me, although the start to April has been horrible since there is nowhere to hide.

Down we go in a self-inflicted mess caused by Mr Trump's errant tariff policy. I talk about trade and budget deficits, and the week ahead.