Ongoing tariff risk
• Tariff news. Threats of more tit-for-tat tariff moves between the US & EU unnerved markets. Equities & bond yields fell. AUD & NZD dip.• More vol. S&P500 now in “correction” territory. More vol. likely as 2 April approaches. This is when the US will announce ‘reciprocal’ tariffs.• Macro events. A busy week ahead macro wise. China data (Mon), BoJ (Weds), US Fed, AU jobs report, NZ GDP, & BoE (all Thurs) on the schedule. Global Trends Yesterday’s improvement in sentiment failed to take hold with another bout of tariff-related risk aversion washing through overnight. Trade tensions remain elevated and...