US import tariffs continued to dominate financial markets in April. Although President Trump quickly scaled back the tariffs he announced on 2 April, uncertainty remained high. This uncertainty raises the question of whether it’s still possible to avoid a recession in the US.
Please see Van Lanschot Kempen’s Asset Allocation Outlook for May. The highlights this month are:
- Calm returns to financial markets after trade war paused
- Leading economic indicators worsen
- Cash position reduced in favour of Eurozone government bonds
