It’s the same old story wherever you look. The throes of Trump 2.0 are well and truly underway, and the world of finance has started to exhibit the side effects.
Last month, the markets felt the pain of the new administration, with the S&P recording its worst month since December.
Despite all the enterprise-friendly initiatives from the Oval Office – the headline-grabbing, capital-intensive Stargate Project sparked some of the fieriest conversation – the markets are still in flux. Volatility will remain a top concern over the coming months.
If it’s not JD Vance, the First Lady, or Barron next to the new President, chances are Elon Musk will be.
Taking the helm of the newly established Department of Government Efficiency, Musk has certainly been decisive in his efforts to level out spending.
News of the CFPB being wound down hasn’t come and gone quietly, and though denied, the same goes with rumours of the FDIC being consolidated into the OCC.
The big question remains: will he be able to win over the bond market? Time will tell.
It's not all doom and gloom. Much earlier on the campaign trail, Trump appealed to the US’s crypto sector, vowing to turn the country into “the crypto capital of the planet”. Truth be told, he hasn’t backed down yet.
From record-breaking highs to a new, very different chair at the SEC – Mark Uyeda succeeded Gary Gensler in January, albeit temporarily – crypto has enjoyed nothing less than a period of euphoria under Trump.
Reports that the President could soon create a “strategic crypto reserve” – involving not just the heavy hitters of BTC and ETH, but XRP, SOL, and ADA – could mark a watershed moment of embrace for the asset class.
Across the Pond, the FTSE 100 recently enjoyed all-time highs, breathing new life into the index after a stagnant patch last year.
As we approach the Chancellor’s Spring Statement – the results of which will undoubtedly depend on the assessments of the OBR – we’ll all be watching to see if Reeves can make due on her promises of economic growth. Until then, the chant writes itself: vive la FTSE!
MarketWatch: Should investors worry about March?
A stormy February isn’t abnormal — but concerns over economic growth and tariffs may not clear until late March, say analysts. Read here.
Reuters: CFPB staff told to halt work.
Protests erupted after the US' newly installed consumer watchdog Chief told CFPB staff to stay away from the office. Read here.
City AM: FTSE 100 hits all-time high.
The FTSE 100 index soared last month as European countries planned to up defence spending. Read here.
Bloomberg: Wall Street doubts Musk’s budget cuts.
Elon Musk's cost-cutting efforts are facing skepticism from the bond market, with investors questioning their long-term impact. Read here.
CNBC: Trump to turn US into "crypto capital".
President Donald Trump announced the creation of a “strategic crypto reserve” that will include bitcoin, ether, XRP, and more. Read here.
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