ILCB - 'Big Beautiful Bill' Brings Fiscal Concerns

2025-05-28 02:45:00 ET

Summary

• Fiscal fears dominated the market last week before President Trump's escalation in tariff threats on Friday.
• US Purchasing Managers’ Index and labor data could point to the Federal Reserve holding the current level of rates for longer.
• Higher UK inflation reflects higher utility bills and airfares, but is unlikely to deter further Bank of England rate cuts.

Fiscal fears and rising bond yields dominated the market narrative last week. For some, perhaps, it was a break from worrying about trade and tariffs - but that break was brief. On Friday, President Trump threatened a 50% tariff on the European Union ((EU)) starting in June ¹ and a 25% levy on Apple ( AAPL ). ² ...

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