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Macro and Markets Review for April 2025

May 2, 2025

10:01 am

The world may have fundamentally shifted following President Trump’s declaration on Freedom Day in early April, marking a pivotal moment in the global economic landscape. With the U.S. taking a more insular approach, globalization appears to be heading into reverse. The reverberations of this policy shift are already being felt across international trade, investment flows, and…

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A World Trying to be Patient

Apr 28, 2025

8:40 am

• Still a paucity of economic data to define the impact of tariffs • Q1 data has tuned out to be stronger than expected in some quarters- something that could have been built on • Survey data shows a decline in confidence that appears to growing • Relatively we prefer european assets over the US…

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Here Comes the Data

Apr 23, 2025

6:02 am

• Economic surveys and data points will provide greater clarity to the state of the global economy • A new set of IMF forecasts will provide some guidance to the downside to growth and upside to inflation • Trump’s attack on Fed chair Powell does not bode well for long-term bond yields – real yields…

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Investment Strategy

Apr 17, 2025

6:39 am

• US announces reciprocal tariffs, higher than expected. • These tariffs may slow growth, raise near-term inflation, and risk tipping the US into a recession. • India remains relatively insulated but could be impacted by a US slowdown and any second order impact. • With the tariff event behind us, we plan to reduce our…

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