
Weekly Macro & Markets View
What were the key global economic data releases, what is Zurich’s view and what does this mean for financial assets?
Weekly Macro and Markets View, Week 31
Highlights and View
-
The US and EU agree on a trade
deal, with a 15% US import tariff rate
across most products
While a decrease in uncertainty is welcome, the reality is that the EU now faces persistently worse trade conditions with minimum US concessions. -
The US and Japan strike a trade
deal slashing US tariffs on
Japanese autos from 25% to 15%
Despite the good news and the subsequent relief rally in Japanese stocks, tariffs remains higher than pre-trade war norms and for Japan’s automakers, it is a case of ‘less bad, but not truly better’. -
The US economy remains resilient
in the face of rising tariffs and
elevated policy uncertainty
Services activity has picked up markedly in July while manufacturing dipped back into contraction.
Archive
- June 30, 2025 | Week 27
- June 23, 2025 | Week 26
- June 16, 2025 | Week 25
- June 10, 2025 | Week 24
- June 02, 2025 | Week 23
- May 26, 2025 | Week 22
- May 19, 2025 | Week 21
- May 12, 2025 | Week 20
- May 05, 2025 | Week 19
- April 28, 2025 | Week 18
- April 14, 2025 | Week 16
- April 07, 2025 | Week 15
- March 31, 2025 | Week 14
- March 24, 2025 | Week 13
- March 17, 2025 | Week 12
- March 10, 2025 | Week 11
- March 03, 2025 | Week 10
- February 24, 2025 | Week 9
- February 17, 2025 | Week 8
- February 10, 2025 | Week 7
- February 03, 2025 | Week 6
- January 27, 2025 | Week 5
- January 20, 2025 | Week 4
- January 13, 2025 | Week 3
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