Uncertainty on US trade policy and its potential impact on economic activity will keep market volatility high

The market roller coaster continues. Listen to the latest podcast on the market reactions to US tariff announcements

President Trump’s announcements of tariffs on ‘Liberation day’ has initiated a sort of a trade war. China has responded with its own tariffs on US goods.

With tariff uncertainty affecting market expectations and consumer confidence, bonds are back as a key diversification engine for global investors.

Outperformance in European equities has been mainly driven by banks, the industrial, and technology sectors.

The article reports that January's Consumer Price Index (CPI) rose by 0.5%, reaching an annual rate of 3.0%, and discusses core inflation drivers and...

A change in market expectations on US inflation and economic activity has driven the recent surge in bond yields.

This analysis reviews the January 2025 macroeconomic outlook, focusing on the Fed's inflation challenges and interest rate expectations.

A change in market expectations on US inflation and economic activity has driven the recent surge in bond yields.

A change in market expectations on US inflation and economic activity has driven the recent surge in bond yields.

The US economy is transitioning to slower growth, with a soft landing expected amid reduced imbalances and declining inflation.

Price pressures in the US and eurozone are abating, although some inflation components could be volatile.

Detailed macroeconomic analysis of the evolution of the US, Chinese and Indian economies, with forecasts for interest rates, inflation and growth.

The IMF outlook highlights the remarkable resilience in growth and declining inflation in most countries. However, the medium-term outlook remains subdued...

Find the latest edition of our monthly publication. The focus is on the IMF meeting: short-term resilience, but no reacceleration in the mid term.