Insights

Weekly Market Commentary – 29th August

2 September 2025

This week US tariffs returned as India was hit with a rate of 50%, and China and the EU were threatened with punitive tariffs for not complying with the US president’s view of the world. Market reaction was muted but the US dollar slid as Donald Trump tried to curb the Federal Reserve’s independence. Investors also seem nervous of long-dated treasury bonds as tariffs and a less robust Fed raise fears of higher inflation. Today’s reading for the Core PCE Price Index will be closely watched for signs of a further pick up in consumer inflation.