Economics & Markets

Risk appetite recovers, following the spike in volatility at the beginning of April. However, the divergence between the central banks’ strategies is accentuated. Meanwhile, sovereign yields return, broadly speaking, to the levels of March and the stock markets recover some of the lost ground. Although the dollar is stabilising, it remains weak, and energy prices suffer due to the global uncertainty.

100 days after Donald Trump’s inauguration as US president and five weeks following the announcement of the tariff hikes, there is a feeling of tense calm in the economy and the financial markets, as we wait to see how the negotiations between the major trading blocs develop.