TEAM Asset Management

What is happening?
Be careful what you wish for is the message emanating from Wall Street. Feint hopes of a watered-down version of reciprocal tariffs set to be unleashed on America’s trading partners on April 2, labelled ‘Liberation Day’ by the Make America Great Again (MAGA) team, were dashed by a howitzer from the President.

In true Trump fashion, the Donald held up a gameshow-style poster board outlining the tariffs the administration contends are ‘charged’ to the U.S., as well as a column of aggressive and far-reaching ‘discounted’ tariffs the U.S. would implement in response.

Putting aside the methodology used, the long and short of it is a 10% baseline tariff on almost every one of America’s trading partners, though many nations such as China, Vietnam, and Taiwan are subject to far steeper rates.

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TEAM | CIO Alert: Mind the Gap Be careful what you wish for is the message emanating from Wall Street. Feint hopes of a watered-down version of reciprocal tariffs set to be unleashed on America’s trading partners on April

President Trump hit the headlines again in a recent social media post which said ‘for decades the U.S has been ripped off and abused by every nation in the world, both friends, or foe. Now it is the time for the good old USA to get some of the money, and respect back. God bless America.’

The result of this along with an announcement of imposing 25% tariffs on imports of finished cars and certain car parts was more than enough to create added market anxiety with share prices nose diving across the world.

Liberation day is (2nd April) today according to President Trump and the White House staff have been busy studying and investigating all the country’s trading relationships. All reports should have been fed into the President by yesterday so that he can make important tariff announcements at 8pm, our time tonight.

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TEAM | Trump's Liberation Day! - Puts Market in Spin President Trump hit the headlines again in a recent social media post which said ‘for decades the U.S has been ripped off and abused by every nation in the world, both friends, or foe. Now it

As we embrace, and navigate, ‘correction territory’, the industry label assigned to market drawdowns of 10% or greater, a soothing message from the 52 corrections that have taken place since 1950: they happen, and frequently. Market volatility is the price of additional expected returns. Don’t panic, this too shall pass.

With that said, an additional factor in this cycle has our attention that may have important implications for the growth trajectory of America: ‘the wealth effect’.

Buoyed by abundant liquidity, euphoric consumer sentiment, and two sensational years of returns, American stock market holdings rose approximately $300 billion to $56 trillion in 2024, a record high, according to data from the Federal Reserve.

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TEAM | Wealth Shock? As we embrace, and navigate, ‘correction territory’, the industry label assigned to market drawdowns of 10% or greater, a soothing message from the 52 corrections that have taken place since