The circus continues
I’m referring, of course, to the court ruling which found that the tariffs imposed by Trump are being levied illegally. We’ll explore what this means and the possible outcomes in this update. The markets liked the judgement, at least at the outset, although the excitement started to wane as it became evident that an appeal would likely keep existing tariffs in situ.
Helping to boost market sentiment was news from Nvidia, posting an increase of nearly 70% in revenue for the quarter.
Of concern to the markets in the US especially, are elevated bond yields. The appetite for long-dated UK gilts has also waned.
The International Monetary Fund (IMF), despite issuing warnings on tax and spending, has raised its forecasts for UK growth – just as business confidence in the UK hits a nine-month high (according to the Lloyds Business Barometer).
As usual, there is a lot going on and at times it can appear overwhelming. But, on a global scale, we are not too badly off. I’ll take a look this week at how much the average Brit is worth compared to the rest of the world. Nothing too serious, but it does give a wider perspective.
Next week, I’ll look at how the UK compares to other countries regarding the level of state pensions, as those with a full state pension are about to see some of it taxed, even if they have no other income.
This week’s content:
- “Donald, where’s your troosers?”
- Global markets respond positively
- US bond yields are causing concern
- The outlook for the UK is improving
- How wealthy is the average person around the world?
- Summary
“Donald, where’s your troosers?”
Well, Donald has been caught with his trousers down as a court ruling hampers his progress on tariffs. Although not Scottish, he has strong links to the country, but the title here refers to a song by Andy Stewart who tells of a Scot who wears his kilt in defiance of the shock it causes polite society. Donald Trump has certainly caused shock across democratic societies and is now being challenged.
A court in the US has ruled that Trump’s Liberation Day tariff scheme was illegal. The US Court of International Trade found on Wednesday that he didn’t have the authority to use the emergency economic powers legislation.
Continues…
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