Concerns regarding tariffs and trade rhetoric faded a bit in the second half of the week in the U.S., which gave way to decent economic data and a strong start to the earnings season. The S&P 500 and NASDAQ hit record highs (again). Yields were under modest pressure at the long end of the curve.

U.S. stocks fell last week and the Dollar rose, with daily chat from the Trump Administration regarding tariffs. However, investors largely said "meh" as the Trump playbook is now heavily discounted by investors.

This article contains tables and commentary regarding the rather volatile but ultimately positive first half of 2025.

NATO was front and centre last week as the annual NATO Summit was held in The Hague on Tuesday and Wednesday, making it an opportune time...

Moody's downgraded the US, the last of the "big three" to strip the US of its triple-A rating. I suspect a muted reaction, at least initially, in the UST market. Stocks might take it worse. I also cover Walmart and its comments on tariffs.

Four of the infamous tech giants in the Mag & report earnings today and tomorrow: MSFT, META, AMZN and AAPL. Risk is downside asymmetrical.

The first quarter was actually quite decent for me, although the start to April has been horrible since there is nowhere to hide.

Down we go in a self-inflicted mess caused by Mr Trump's errant tariff policy. I talk about trade and budget deficits, and the week ahead.

The announcement of tariffs by President Trump on Weds made a nervous market completely puke, with stocks getting hammered.

This is a very brief update for the Mag 7 stocks for 1Q2025, all of which were down, several sharply. It is not getting better either!

The 1Q2025 is in the bag, not an easy quarter. US stocks performed poorly, but gold and European stocks did well. Treasuries also did ok.

Inspired by Mr Trump's false claims that he inherited the "worst economy ever", this article looks at administrations' economic performance.

This article summarises two articles and one podcast that are topical,: US/EU automotive tariffs, social security "fraud", and steel tariffs

The week started with the Trump Administration announcing tariffs on Mexico, Canada and China, the first two of which were quickly rescinded

The week started and ended poorly for US stocks, delivering losses for the week. European stocks have been the best performers YtD.

DeepSeek wrecks outlook for AI companies; Mag 7 companies MSFT, META, TSLA and AAPL report earnings; FOMC expected to hold rates

This article contains an update of my 2024 portfolio performance. My returns were decent but not as good as they should have been.

Better late than never, in that this article is about my views on American exceptionalism, both economically and as far as US stocks.