{"id":34532,"date":"2025-03-19T16:13:26","date_gmt":"2025-03-19T15:13:26","guid":{"rendered":"https:\/\/telomere.ch\/?p=34532"},"modified":"2025-09-04T16:22:10","modified_gmt":"2025-09-04T14:22:10","slug":"market-update-march-2025","status":"publish","type":"post","link":"https:\/\/telomere.ch\/en\/market-update-march-2025\/","title":{"rendered":"Market Update March 2025"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.16&#8243; custom_margin=&#8221;||-9px|||&#8221; custom_padding=&#8221;8px||2px|||&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_row _builder_version=&#8221;4.27.2&#8243; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221; min_height=&#8221;1118.2px&#8221; custom_margin=&#8221;-4px|auto|-4px|auto|true|false&#8221; custom_margin_tablet=&#8221;-4px|auto|-4px|auto|true|false&#8221; custom_margin_phone=&#8221;-4px|auto|-4px|auto|true|false&#8221; custom_margin_last_edited=&#8221;on|desktop&#8221; custom_padding=&#8221;5px|0px|0px|0px|false|false&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_image src=&#8221;https:\/\/telomere.ch\/wp-content\/uploads\/2025\/03\/Market_Update_MARS_ANG_1600_1000.jpg&#8221; alt=&#8221;green grass field with trees and mountains in the distance&#8221; title_text=&#8221;Market_Update_MARS_ANG_1600_1000&#8243; align=&#8221;center&#8221; src_tablet=&#8221;https:\/\/telomere.ch\/wp-content\/uploads\/2025\/03\/Market_Update_MARS_ANG_1600_1000.jpg&#8221; src_phone=&#8221;https:\/\/telomere.ch\/wp-content\/uploads\/2025\/03\/Market_Update_MARS_ANG_1600_1000.jpg&#8221; src_last_edited=&#8221;on|desktop&#8221; _builder_version=&#8221;4.27.4&#8243; _module_preset=&#8221;default&#8221; min_height=&#8221;100px&#8221; custom_margin=&#8221;||36px|||&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_image][dnxte_button button_text=&#8221;Download the PDF Market Update&#8221; button_link=&#8221;@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF9saW5rX3VybF9hdHRhY2htZW50Iiwic2V0dGluZ3MiOnsicG9zdF9pZCI6IjM0NTEyIn19@&#8221; button_link_new_window=&#8221;on&#8221; dnxt_button_alignment=&#8221;center&#8221; btn_icon=&#8221;&#x4c;||divi||400&#8243; btn_icon_color=&#8221;#FFFFFF&#8221; dnxt_hover_bg=&#8221;dnxt-hover-sweep-to-right&#8221; dnxt_hover_bg_color=&#8221;rgba(98,140,224,0.37)&#8221; dnxt_button_alignment_tablet=&#8221;center&#8221; dnxt_button_alignment_phone=&#8221;center&#8221; dnxt_button_alignment_last_edited=&#8221;on|desktop&#8221; _builder_version=&#8221;4.27.4&#8243; _dynamic_attributes=&#8221;button_link&#8221; _module_preset=&#8221;default&#8221; btn_fonts_font=&#8221;Inter|||on|||||&#8221; btn_fonts_text_color=&#8221;#000000&#8243; btn_fonts_font_size=&#8221;14px&#8221; btn_fonts_letter_spacing=&#8221;3px&#8221; min_height=&#8221;41.2px&#8221; custom_margin=&#8221;14px||||false|false&#8221; custom_padding=&#8221;1px|||||&#8221; border_radii_btn_border=&#8221;on|0px|0px|0px|0px&#8221; border_width_top_btn_border=&#8221;0px&#8221; border_width_right_btn_border=&#8221;0px&#8221; border_color_bottom_btn_border=&#8221;#3f3f3f&#8221; border_width_left_btn_border=&#8221;0px&#8221; border_color_left_btn_border=&#8221;#000000&#8243; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221; btn_fonts_text_color__hover_enabled=&#8221;off|desktop&#8221; btn_fonts_text_color__hover=&#8221;#FFFFFF&#8221;][\/dnxte_button][et_pb_text _builder_version=&#8221;4.27.0&#8243; text_font=&#8221;Roboto|300|||||||&#8221; text_text_color=&#8221;#6F757D&#8221; text_font_size=&#8221;59px&#8221; text_line_height=&#8221;1em&#8221; header_font=&#8221;|700|||||||&#8221; header_font_size=&#8221;58px&#8221; header_line_height=&#8221;1.1em&#8221; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221; min_height=&#8221;48px&#8221; custom_margin=&#8221;||2px||false|false&#8221; custom_padding=&#8221;||15px|||&#8221; text_font_size_tablet=&#8221;45px&#8221; text_font_size_phone=&#8221;35px&#8221; text_font_size_last_edited=&#8221;on|phone&#8221; header_font_size_tablet=&#8221;57px&#8221; header_font_size_phone=&#8221;36px&#8221; header_font_size_last_edited=&#8221;on|desktop&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p>Editorial<\/p>\n<p>[\/et_pb_text][et_pb_text content_tablet=&#8221;<\/p>\n<p>February was a challenging month for financial markets, marked by heightened volatility and renewed geopolitical tensions. The US economy, which had led the global recovery narrative, now faces growing uncertainty amid escalating trade disputes triggered by President Trump&#8217;s protectionist policies. Tariffs imposed on China, Canada and Mexico have triggered retaliatory measures, unsettling investors and raising concerns about disruptions to global trade flows.  <\/p>\n<p>Inflation dynamics are increasingly diverging between the US and Europe. While euro area inflation continues its gradual deceleration, US core inflation remains stubbornly elevated. Recent tariffs, combined with robust labor market conditions and pro-growth policies, are fueling fears of more persistent inflationary pressures in the US.  <\/p>\n<p>In this environment of heightened uncertainty and volatility, bonds have demonstrated their value as effective diversifiers against equity market losses. Our preference for investment grade bonds over high yield remains intact, given the limited extra yield offered by riskier credits. <\/p>\n<p>We hope you enjoy reading and find these updates helpful for the month ahead.<\/p>\n<p>&#8221; content_phone=&#8221;<\/p>\n<p style=%22text-align: left;%22>February was a challenging month for financial markets, marked by heightened volatility and renewed geopolitical tensions. The US economy, which had led the global recovery narrative, now faces growing uncertainty amid escalating trade disputes triggered by President Trump&#8217;s protectionist policies. Tariffs imposed on China, Canada and Mexico have triggered retaliatory measures, unsettling investors and raising concerns about disruptions to global trade flows.<\/p>\n<p style=%22text-align: left;%22>Inflation dynamics are increasingly diverging between the US and Europe. While euro area inflation continues its gradual deceleration, US core inflation remains stubbornly elevated. Recent tariffs, combined with robust labor market conditions and pro-growth policies, are fueling fears of more persistent inflationary pressures in the US.<\/p>\n<p style=%22text-align: left;%22>In this environment of heightened uncertainty and volatility, bonds have demonstrated their value as effective diversifiers against equity market losses. Our preference for investment grade bonds over high yield remains intact, given the limited extra yield offered by riskier credits.<\/p>\n<p style=%22text-align: left;%22>We hope you enjoy reading and find these updates helpful for the month ahead.<\/p>\n<p>&#8221; content_last_edited=&#8221;on|phone&#8221; _builder_version=&#8221;4.27.4&#8243; text_font=&#8221;|300|||||||&#8221; text_text_color=&#8221;#6F757D&#8221; text_font_size=&#8221;21px&#8221; text_line_height=&#8221;1.4em&#8221; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221; text_orientation=&#8221;justified&#8221; min_height=&#8221;380.2px&#8221; custom_margin=&#8221;||16px|||&#8221; custom_padding=&#8221;||12px|||&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p>February was a challenging month for financial markets, marked by heightened volatility and renewed geopolitical tensions. The US economy, which had led the global recovery narrative, now faces growing uncertainty amid escalating trade disputes triggered by President Trump&#8217;s protectionist policies. Tariffs imposed on China, Canada and Mexico have triggered retaliatory measures, unsettling investors and raising concerns about disruptions to global trade flows.  <\/p>\n<p>Inflation dynamics are increasingly diverging between the US and Europe. While euro area inflation continues its gradual deceleration, US core inflation remains stubbornly elevated. Recent tariffs, combined with robust labor market conditions and pro-growth policies, are fueling fears of more persistent inflationary pressures in the US.  <\/p>\n<p>In this environment of heightened uncertainty and volatility, bonds have demonstrated their value as effective diversifiers against equity market losses. Our preference for investment grade bonds over high yield remains intact, given the limited extra yield offered by riskier credits. <\/p>\n<p>We hope you enjoy reading and find these updates helpful for the month ahead.<\/p>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=&#8221;1_3,1_3,1_3&#8243; _builder_version=&#8221;4.27.2&#8243; _module_preset=&#8221;default&#8221; transform_scale_tablet=&#8221;&#8221; transform_scale_phone=&#8221;&#8221; transform_scale_last_edited=&#8221;on|phone&#8221; transform_translate_tablet=&#8221;&#8221; transform_translate_phone=&#8221;-71px|0px&#8221; transform_translate_last_edited=&#8221;on|desktop&#8221; transform_rotate_tablet=&#8221;&#8221; transform_rotate_phone=&#8221;&#8221; transform_rotate_last_edited=&#8221;on|phone&#8221; transform_skew_tablet=&#8221;&#8221; transform_skew_phone=&#8221;&#8221; transform_skew_last_edited=&#8221;on|phone&#8221; transform_origin_tablet=&#8221;&#8221; transform_origin_phone=&#8221;&#8221; 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