The Fed is confused (and will be careful, likely meaning rates staying higher) because America remains in a Federal shutdown, and data is scarce. Still, US equity markets remain robust, and Elon Musk is rejoicing at his trillion-dollar deal.
The UK, however, is still quaking at the impending budget, with so many possible taxes discussed that they can’t all be needed…there may even be relief once the bad news is out. Trainline’s results looked solid, but Tim Martin at Wetherspoon used a trading update as a platform to berate the government on everything from corporate regulation to nuclear power.
Next week – and perhaps many weeks to come – will see the US Supreme Court deliberate the legality of Trump’s tariffs…so this week’s lack of fireworks may be a postponement rather than a cancellation. What will happen when Liberation Day meets its own Judgement Day…?
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