Digest | 19 May 2025
- Edward von der Schmidt
- May 20
- 5 min read
Quiet trading followed on Monday in the wake of Friday's US debt downgrade, deteriorating consumer sentiment, and budget deliberations on Capitol Hill. A Russia-Ukraine ceasefire appeared no closer after a Trump-Putin call as trade negotiations proceeded with a limited roster of countries. European elections brought mixed blessings for the bloc while the EU and UK marked a diplomatic reset. Federal court rulings brought agency independence into question while Federal Reserve officials bargained for more time in pushing out any easing adjustments. Australia and China's central banks each cut policy rates early Tuesday.