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    Multi-asset chart of the week

    Multi Asset chart of the week

    08 April 2025 Multi-asset
    Week to 11 April 2025

    Extreme moves across asset classes over the week

    Stephanie Chan, Portfolio Manager, said: “Volatility returned to the markets with a vengeance last week as Trump announced tariffs against global trading partners on 2 April and most assets subsequently experienced sharp moves.The Trump tariffs are an aggressive opening stance in the evolving global trade war – markets have been pricing in continued policy uncertainty and an increased risk of recession. Over the week, most global equity markets suffered a drawdown more than 3 standard deviations from an average weekly move while the US government bond return was almost 2 standard deviations from an average weekly move.”

    Chart of the week 080425_V2.png

    Source: Bloomberg and Insight Investment as at 04 April 2025.
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