Public Markets 3h Briefing
×Tariff Policy Shift
US Trade Representative Jamieson Greer bloomberg.com says President Trump will sign a supplemental proclamation to increase tariff levels to 15% "where appropriate," seeking "continuity" on trade policy. The move signals potential escalation in US trade measures as officials work to balance protectionist goals with economic stability.
Earnings & Corporate Moves
Workday investing.com faces a downgrade from Evercore after issuing a dour outlook that disappointed investors. Meanwhile, Sandoz wsj.com shares jumped 6.4% following improved revenue guidance driven by biosimilar product growth. TJX Cos wsj.com posted higher profit and sales in Q4 but guided for slightly slower growth ahead, while Bloomin' Brands wsj.com reported its Outback Steakhouse chain achieved positive traffic for the first time in four years as turnaround efforts show progress.
Market Sentiment & Investment Strategy
Citi Wealth CIO Kate Moore bloomberg.com maintains an "all-in on equities" stance despite market volatility, though she remains cautious on duration risk in her portfolio. ING Groep bloomberg.com suggests European government bonds could attract investors seeking shelter from AI-driven swings in US stocks. Morgan Stanley weighs whether AI disruption represents risk or opportunity for US equities, while Goldman analysts note AI disruption concerns are "difficult to disprove" in the near term.
Regional Market Developments
Canada's IPO market bloomberg.com shows glimmers of hope after years of dormancy, with AGT and Apotex deals potentially reviving activity. Thailand's rice exports bloomberg.com face a five-year low as the baht rally reduces competitiveness, threatening incomes in the agricultural sector. South Africa's National Treasury announced public debt will peak this year, alongside better-than-expected revenue collection and taxpayer relief measures.
Fixed Income & Currency
EUR/USD investing.com is positioned to gain further from Q2 onwards according to Bof A Securities. Britain faces a £69 billion drop in gilt sales next fiscal year, while US mortgage rates fell to their lowest since 2022, spurring refinancing activity. Romania tapped foreign debt markets for the first time this year after budget reforms improved investor sentiment.
Energy & Commodities
OPEC+ delegates bloomberg.com expect the group to resume modest production increases when meeting this weekend to review April policy. Cocoa sales resumed in Ivory Coast after the regulator dropped its premium, ending a standoff with buyers that had disrupted trade in the world's top grower.
Technology & AI Impact
Nvidia, Circle Internet, and Cava investing.com rose in premarket trading, while Lowe's fell. The options market signals heightened hedging for potential "challenging outcomes" in US-Iran tensions, with investors positioning for geopolitical risk scenarios that could impact tech supply chains and energy markets.