Digest | 24 March 2025
- Edward von der Schmidt
- Mar 25, 2025
- 5 min read
Updated: Apr 21, 2025
The possibility of exemptions and a reduced slate of tariffs bolstered US and global equities as well as the dollar on Monday as Treasury yields climbed. A much-publicized breach shed light on the US administration's posture toward Europe as well as its approach to foreign policy. Meanwhile, US negotiators in Riyadh met with Russian counterparts and plan another round of discussions with Ukraine in search of a temporary Black Sea ceasefire. Maritime security remains a global concern given implications for pivotal supply chains. Tariff headlines were not all sanguine: a "secondary tariff" proposed for importers of Venezuelan oil sent crude higher. Indonesia's rupiah led foreign currency weakness in the wake of fiscal spending plans outlined last week while civil unrest in Turkey continued to weigh on the lira.