Markets scaled a wall of worry in the second quarter of 2025—geopolitics took center stage from tariff turbulence, while equity markets rallied sharply from the post “Liberation Day” lows.
With the advent of the Trump 2.0 tariffs, it’s fair to say that the global economy is now in the midst of a widespread and potentially brutal trade war.
Global equity markets garnered positive returns in January, as investors’ confidence was buoyed by generally favourable economic data and upbeat corporate earnings news.
