April 2025

When perceived uncertainty is high, so is the capacity for resolution & relief. The collective confusion over Trump’s tariff turmoil is building suspense around the economy’s resilience. Is the pervasive gloom an overreaction to ambiguous economic signals & erratic policy OR a sober recognition that real world conditions are souring fast?

Markets that spent two years anticipating a recession that never came took 2 days to price in surging odds of a recession that might come by invitation. A tariff off-ramp or ditch ahead? How do we navigate the markets ‘new normal’?

A growth scare, messy exit from mega-cap tech & trade-policy aggression causing a market leadership crisis. Has the confidence crash & 10+% correction priced enough in?