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    Multi-asset chart of the week

    Multi Asset chart of the week

    29 April 2025 Multi-asset
    Week to 02 May 2025

    A majority of US households expect business conditions to worsen

    Stephanie Chan, Portfolio Manager, said: “A University of Michigan survey of US households shows sentiment has deteriorated sharply since Trump’s tariff announcements: 64% expect business conditions to worsen in a year. This is the most negative result in the survey’s history since 1978. The negative sentiment around business conditions may foreshadow worsening hard economic data in the coming weeks and months as uncertainty persists and the impacts from the tariffs start to materialise.”

    CHart of the week 29042025.png

    Source: Bloomberg and Insight Investment as at 27 April 2025.
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