Friday 28th March 2025

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The US share market fell only slight today after yesterday’s announcement that cars and car parts will have a 25% import tariff imposed on them, irrespective of where they come from. Interestingly, US manufacturers seem to have been hit hardest on the share market. Generally, though, markets took the news in their stride.  There are several Fed speakers talking today. NNAB’s Taylor Nugent says they’ll remain focussed on inflation expectations, but longer-run market measures haven’t followed survey measures higher for now.  UK Gilt yields rose as investors got to grips with yesterday’s budget, and whether the numbers stack up.  Is a tax rise the likely next step? Today the US PCE read for February, Fed’s preferred measure of inflation, along with consumer spending and saving data.

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