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VEEV - Macquarie Mid Cap Growth Fund Q1 2025 Commentary
Veeva Systems Inc. Class A
2025-06-23 09:43:00 ET
Market review
In 1Q2025, government policy uncertainty dominated the macroeconomic landscape with significant developments in tariffs, spending cuts, and immigration. The administration imposed tariffs on steel, aluminium, and imports from China, Canada, and Mexico, with more tariffs expected. The Department of Government Efficiency identified more than $100 billion in savings, but overall spending rose. Consumer spending growth slowed, with minimal improvement in inflation....