Bonds & Stocks
While equities worldwide have surged to successive record highs, worries over the US government stalemate and the political crisis in France have driven investors toward alternative assets such as gold and Bitcoin. “Enthusiasm for stocks is starting to wane after another record-breaking start to the week for Wall Street.”
Economy
Kentucky bet big on electric cars, only to see the administration kill a key incentive. It’s welcomed major manufacturing investments, only for companies to face tariffs and the threat of immigration raids. And Beshear argues there’s more pain to come from Trump’s trade war. “The impacts are hitting the economy in Kentucky and across the country. They haven’t been fully felt yet,” he says in an interview in the state capital of Frankfort. “While Donald Trump says he wants to reshore American manufacturing, his tariffs are actually preventing it from occurring.”
World
Japan’s 30-year sovereign bond auction demand was firm enough to bring some calm to global markets following the surprise victory of pro-stimulus conservative Sanae Takaichi in the ruling party leadership race. The supply came after heavy post-election volatility saw the yen and long-term bonds tumble, while expectations that government spending would spur economic growth sent Japan equities soaring.