Digest | 8 May 2025
- Edward von der Schmidt
- May 9
- 3 min read
The first post-Liberation Day trade agreement and the possibility of thawing Sino-American tensions lifted risk assets on Thursday. While the S&P 500 (+0.6%) and Nasdaq (+1.1%) registered back-to-back advances, 10-year Treasury yields climbed more than 10bp, crude oil futures vaulted nearly 3%, and BTC rallied to its highest levels since January 31. Various officials continued to call for calm amid fighting in Kashmir. Anecdotal reports pointed to a potential confluence of shortages, price increases, and layoffs in the US in June and July.