Editorial
Financial markets in March were marked by heightened volatility and significant macroeconomic developments, as we tried to assess the impact of new US trade policies and evolving global economic conditions. From the Federal Reserve’s cautious stance to President Trump’s sweeping tariffs under “Liberation Day”, these events introduced fresh complexities for policymakers and market participants alike.
Investor sentiment took a sharp hit, with the US Consumer Sentiment Index plunging to its lowest level in over two years. Trade tensions and tariff announcements have fueled inflationary pressures while dampening growth prospects, creating an environment of uncertainty. Meanwhile, the Euro is emerging as a potential risk-off currency, signaling a shift in investor behavior during periods of market stress. As correlations within U.S. equities remain historically low, defensive strategies may gain traction as investors brace for potential corrections.
We hope you enjoy reading and find these updates helpful for the month ahead.
Joan Bürgy
Investment Specialist
Jérôme Tobler, CIIA
Partner Senior Financial Advisor
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