Listen to the October 2025 Market Observer

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We last left you in early July with the observation that the financial markets now seemed to thrive on and reward uncertainty. The equity and credit markets had plunged in March on the initial economic fears over the Trump tariffs and then rebounded joyfully in April when Trump variously delayed and fiddled with his tariff strategy that had threatened to burn the U.S and global economy.

Sources:

1. Source: Kirby, Jason. (2025, October 4). U.S. tariff revenue piles up as Canada abandons tit-for-tat trade war approach.
2. Source: Chase, Steven. (2025, October 2). LeBlanc hopes to make progress on steel, aluminum tariff relief before USMCA review
3. Source: Chase, Steven et al. (2025, October 7). Ahead of talks with Carney, Trump says his tariffs are working.