Digest | 23 April 2025
- Edward von der Schmidt
- Apr 23
- 4 min read
Updated: May 4
Another domestic stock rally belied pervasive trade policy and economic outlook uncertainty. Dollar strength and steadying Treasuries complemented oil weakness, which was compounded by growth concerns and Reuters' report that OPEC+ would consider another output hike in June when it meets on May 5. The the US position vis-a-vis China has softened, there is no indication that they (or other trading partners) are in any hurry to deal. Prospects for peace in Ukraine remained distant after London talks fell through and the US threatened to walk. The latest Federal Reserve Beige Book and flash PMIs for April foreshadowed a deteriorating outlook hand-in-hand with inflationary pressures.