iSAM Expands UK Presence with Move to New London Headquarters

US indices are down as CPI data indicates tariff costs are being passed on to consumers, lowering the likelihood of interest rate cuts. The Hang Seng Index rose 0.7% this morning, reaching its highest level in four months.

After Trump's announcement of a 30% tariff on EU goods, the EU responded with a finalized second list of countermeasures targeting US goods worth €72 billion ($84 billion), including Boeing aircraft, automobiles, and bourbon—if it decides to retaliate—as transatlantic trade tensions intensify.

The Australian dollar weakened this morning to around $0.656, reversing gains from last week, as renewed tariff threats from Trump raise concerns of a potential global trade war. Trump has proposed a 200% tariff on Australian pharmaceuticals, which, if implemented, could cost the Australian economy up to A$2.8 billion.