Azimut Investments - Market Insights

As anticipated in the last commentary, April 2nd unfortunately did not mark a “Liberation Day” from the pervasive and frustrating uncertainty caused by Trump's tariff saga.

Today is April 2 - the most anxiously awaited day of the year. In Trump's words, it is "Liberation Day." Unfortunately, if history is any guide, it will not be the day we are finally freed from the pervasive and frustrating uncertainty that has characterized the beginning of 2025

In recent weeks, there has been a significant decline in the US markets, with the main indices entering a correction, i.e.: falling by more than 10% from their highs. The decline was primarily driven by the very companies that had led the rally in previous months.

According to preliminary official results, the conservative CDU/CSU coalition emerged as a winner from the German federal elections held on February 23rd, securing 28.6% of total votes. Other major parties performed broadly in line with pre-election polls: AfD garnered 20.6%, SPD 16.5%, and the...

Overall, the reporting season was strong, with Japanese companies delivering the largest beats versus expectations, with EPS rising 21% year-over-year.

The prediction in the annual outlook that 2025 would be a more volatile year, mainly because of Trump, was an easy one and unfortunately spot-on.

In the first part of the month, U.S. interest rates edged close to the highs reached at the end of 2023.

After nearly 15 years of relative obscurity, and more specifically since the European periphery crisis of 2010 - 2011, the year 2025 may be marked by the return to the forefront of the issue of the sustainability of public deficits and debts.