Digest | 11 April 2025
- Edward von der Schmidt
- Apr 12
- 4 min read
Updated: Apr 21
A Treasury roller-coaster, record high in gold, pronounced dollar weakness, and the S&P's best week in years capped a remarkable stretch replete with volatility. Tit-for-tat tariff announcements may have run their course but could bring US-China trade to a standstill. A preliminary University of Michigan survey for April showed consumer sentiment plummeting further in the US as inflation expectations continued their ascent. Bank earnings outperformance aided by trading revenue also brought warnings of a potential slowdown amid policy uncertainty. A number of Fed officials outlined a deteriorating forecast and balanced rhetoric addressing market turbulence with the need to demonstrate a commitment to the central bank's inflation mandate. Meanwhile, US talks with Russia and Ukraine preceded mediated discussions in Oman concerning Iran amid tensions in the Middle East.