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Subscribe09 APR 2025
Global markets didn’t just wobble, they spun on their heels. While U.S. large caps slid into a 17.4% plunge, Europe’s defense stocks rocketed upward, powered by historic military spending. Germany’s Rheinmetall more than doubled, and China’s DeepSeek lit a fire under tech, sending Hong Kong’s Hang Seng up 15.3%. At the same time, the U.S. dollar dropped 4%, its worst start to a year since 2008, giving emerging market currencies room to shine—think Mexican peso, Polish zloty, and even a 35% rouble rally. Meanwhile, Tesla slipped, BYD surged, and Bitcoin yo-yoed after Trump’s crypto reserve plan flopped.
Investors piled into gold (+17%), copper (+11%), and even U.S. Treasuries, which ended the quarter with a decent 2.7% return. Clearly, the so-called “Trump Trade” has flipped. Markets are now watching closely as he teases 'Liberation Day', a tariff expansion that could push global trade-weighted tariffs past 10%. With volatility rising and risk sentiment shifting fast, Q2 isn’t just a new chapter, it might be a whole new playbook. Stay sharp, this ride’s just getting started.
Until next time…
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