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Yesterday was yet another ugly day of trading, especially for the US and the technology companies. The Federal Reserve (Fed) President warned that the tariffs were significantly higher than they thought, that they could soften employment and boost inflation, that inflation could stick around longer than they thought, that they don’t know how long the impacts will flow through the economy and how they will impact the long-term inflation expectations. He added that they can’t achieve long-term strong growth and employment if they don’t achieve price stability first. In simple words, Powell said inflation is their priority and that the...

The US trade negotiations between the US and the EU aren’t going well, China doesn’t even want to talk. Both US and China now deploy measures other than tariffs to fight each other as Nvidia and Boeing are left in the crossfire. China announced that they will not buy Boeing and Trump administration decided to restrict the export of Nvidia’s H20 chips to China. ASML reported weaker than expected orders in the Q1 due to tariff uncertainty and TSM is expected to announce around 56% profit growth in Q1 thanks to a 42% increase in sales but forecasts will probably...

Markets kicked off the week on a positive note on relief regarding the consumer electronics tariffs – that will not be exempt but will be part of a different ‘tariff bucket’ (20% instead of 145% for those made in China). Then, there was some relief for auto and part makers, as well. As such, the European stocks rallied 2.70% on partial rollback of the tariffs, the US stocks kicked off the week higher but euphoria weakened into the session end on news that the US Commerce Department launched a probe into chips and pharmaceutical imports on national security reasons.
This...

The new week starts on relief that the US will exempt electronics – most of which are made in China – from headline tariffs. Futures are hinting at strong gains across the US and European indices. Hon Hai – a major Apple supplier jump opened in Asia, but is giving back gains since then as Donald Trump said Sunday that the tech sector won’t be exempt from tariffs, they will be in a different tariff bucket. Prepare for another week of hectic headlines, uncertainty and high volatility – and thinning holiday volumes into the Easter break won’t help in terms...

The red line was the sovereign bond markets. It was the flash selloff in US Treasuries over the past few days that finally made Donald Trump take a step back from his tariff strategy. Equities rebound by big chunks, treasury yields are down, the US dollar and oil recover but I wouldn’t pop the champagne just yet. We’ve already seen how the uncertainty alone has hit businesses.
Delta Airlines lowered its earnings guidance, citing global trade tensions. Amazon cancelled orders for China-sourced products to cut exposure to Chinese supply and let’s not forget: China remains a critical market for companies...

Hopes of seeing Donald Trump roll back tariffs before they go live were dashed this morning—along with sentiment across global financial markets.
The Nikkei is down more than 2%, a Bloomberg index tracking Asian currencies fell to a record low, and European and US futures hint at another very, very ugly trading session, with losses between 2–4% at the time of writing. I won’t say much about yesterday’s rebound: moves of that magnitude – above 2–3% – aren’t sustainable unless there’s a clear resolution to the tariff problem.
China, on the other hand, is seeing limited losses across the CSI...

The entire world is holding its breath due to the tariff wars, what's Bitcoin going to do?

Recession fears are rising—but does that really mean the market is doomed? Not quite. In this episode, we explore how the central banks respond to economic and financial crisis, how financial markets overcome periods of weakness and recession, and why bad news are often perceived as good news by investors.
Listen to find out more!

Monday was rough across global financial markets. Mood is better this morning but intraday volatility is at levels not seen since the Covid-era selloff as we’re facing an avalanche of headlines: who’s ready to negotiate, who’s not, what did Trump say, what did he mean… it’s nearly impossible to predict the next move. US Senator Elizabeth Warren called it the “dumbest trade war” in history, pointing out that this turmoil isn’t caused by a virus or a housing collapse—it’s man-made and potentially fixable by simply rolling back tariffs. For now, Trump stands his ground, while world leaders oscillate between retaliation...