Digest | 22 April 2025
- Edward von der Schmidt
- Apr 22
- 5 min read
Updated: May 4
Tuesday's rhetorical retreat calmed market jitters, sending equity indices above Friday's closes as the dollar and Treasuries found their footing and Bitcoin topped $90,000. The recovery in stocks was broad-based: virtually every company in the S&P 500 advanced notwithstanding earnings caution. The prospect of trade war deescalation and Powell's continued tenure at the helm of the Federal Reserve improved risk sentiment as officials from around the world descended upon Washington. The IMF downgraded global growth forecasts on account of trade antagonism and uncertainty, while Fed officials continued to allude to potentially dueling mandates.