Market Overview

As global trust in open markets erodes, national capitalism is emerging as a new strategy where states reclaim control over production, trade, and security to serve sovereign interests. Redrawing the...

Heading into April 2nd, investors were under the impression that Trump’s goal was to set tariff rates that allow for fair trade with other nations. Trade impediments like tariffs, taxes, VATs,...

The US is the world’s leading exporter of services to the global economy. The services sector is also the dominant source of economic activity in America. Those are strengths, but they’re also...

Where Are Markets Today? European markets and U.S. futures are trading lower as investors continue to a highly defensive mode amid escalating global trade tensions and fears of a potential economic...

The recent news is clearly about the imposition of new reciprocal tariffs on US trading partners and the responses that those countries will have to the tariffs. In terms of the markets’ reactions,...

While traditional financial markets experienced severe turbulence on Thursday, April 3, 2025, with major U.S. indexes posting significant losses following President Donald Trump’s sweeping new tariff...

The sweeping policy change for US tariffs announced yesterday by President Trump is a game-changer for the global economy. Exactly how trade flows shift, economies pivot, and governments around the...

Over the past few weeks, we have discussed the sharp jump in the trade deficit due to a surge of imports trying to front-run potential tariffs. Thus far, the impact of front-running tariffs on...

A US 20% reciprocal tariff on the European Union will hurt. It's worsened the eurozone's short-term outlook. Now, so much depends on European governments to push through with their planned fiscal...

Euro Zone inflation dropped to a 4-month low of 2.2%, increasing bets on an ECB rate cut in April. Uncertainty surrounds the inflation outlook due to US tariffs and the EU's response. The DAX index...

Well I think the market finally realized that Trump was serious about his tariffs. I mentioned it on Sunday. As noted then, I think he is pretty serious about this stuff. Trump has been telling us...

Yesterday’s Commentary discussed the vast divergence in the economic sentiment of Democrats versus Republicans. In the piece, we wrote: “Democrats think today’s economic outlook is worse than during...

We are big fans of Sunday crossword puzzles, which tend to be bigger and more challenging than the weekday format. Adding to their allure, most Sunday puzzles have a clever theme, typically three or...

Tariffs are meant to reinvigorate US manufacturing, but there is more concern about what they mean for supply chains and the prospect of foreign retaliation right now, amidst signs of a cooling...