The Journal
A Trek Blog
Global Trade Made America Richer, Not Poorer
Global Trade Made America Richer, Not Poorer As we debated the merits of the Trump tariffs, many argued that global trade and the US deficit—Americans
From McKinley to MAGA: Tariffs, Markets & Investor Risk
From McKinley to MAGA: What Tariff Politics Teaches Us About Market Narrative Risk Volatility is back—and so are tariffs. In recent weeks, markets have
CPI vs Core PCE: The Inflation Metric That Moves Fed Policy
Fed PCE on Speed Dial: Why the Fed’s Got PCE on the Brain (and CPI in the Corner) The inflation data love triangle no
Tariff D-Day: April 2 Is Almost Here
Tariff Sequel: April 2nd’s D-Day – Will the “Dirty-15” Have a Hollywood Ending? Ten days. Ten days until the economic equivalent of a high-wire act
Tariffs & Trade: Will They Really Make a Difference in 2025?
Since the beginning of the year, markets have corrected from all-time highs, and many in the media attribute this to the uncertainty surrounding the Trump
Market Volatility Refresher: The Good, the Bad, and the Sentiment Paradox
The stock market has seen heightened volatility in recent weeks, with the CBOE Volatility Index (VIX) fluctuating sharply. The VIX, often called the market’s “fear gauge,” has
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Weekly Market Commentary
By Greg Lai and Alex Hsiao, Co-CIOs
April 21-25, 2025
Markets moved through the week with the nervous energy. With no new U.S. trade tariff policies since the reciprocal pause announced on April 9, Wall Street appears to be in “deal-watch” mode—expectant, but patient. Investors are hopeful that President Trump’s inaugural trade accord will set the tone for subsequent negotiations, but capital seems content to shuffle its feet in the meantime.
