The second quarter of 2025 began with significant uncertainty as President Trump’s “Liberation Day” tariff announcement on April 2 introduced a much broader and more aggressive set of tariffs than investors had anticipated. This triggered a sharp selloff initially, however, after markets reacted negatively, the administration softened its stance, pausing reciprocal tariffs for 90
The first quarter of 2025 was marked by heightened uncertainty, driven by significant policy shifts and market volatility. Trade tariffs were a key theme as President Trump announced tariffs on certain countries and goods, but as the quarter came to an end, investors were awaiting April 2nd, called “Liberation Day” by President Trump, and
Fourth quarter 2024 results were shaped by November’s U.S. presidential election, as financial markets around the globe digested the implications of a second Trump presidency. The US economy remained strong with annualized GDP growth of 3.1% in Q3. Labor market data was choppy as non-farm payrolls rose by just 43K in October but was
Investors came into the third quarter of 2024 waiting for further progress on inflation, which would enable the US Federal Reserve (Fed) to cut interest rates. Softer readings on employment and inflation data throughout Q3 suggested price pressures were meaningfully abating, and the broader trend indicated an economy that was approaching a soft landing.
Quarterly Commentary is a quarterly view of the equities, fixed income and hedge fund markets from our Family Management specialists.