The S&P 500 is down 5.1% year-to-date as Liberation Day tariffs took effect April 2 under a new Section 301 framework. The "Sell America" trade that emerged one year ago has become a structural realit

The U.S. added 178,000 jobs in March, triple the consensus estimate, but the number landed on Good Friday when equity markets were closed. By today's open, Iran had consumed all the oxygen. The strong

The ceasefire cycle ran its full course in four days. Markets rallied Tuesday and Wednesday on Trump's claim that Iran requested a ceasefire, then reversed hard Thursday morning after his prime-time a

Trump promised more strikes, not a ceasefire. In his prime-time address Wednesday, Trump said the U.S. will "hit them extremely hard over the next two to three weeks" and vowed no ceasefire until the

After five weeks of losses and a 7% S&P 500 decline, markets have posted two sharp consecutive gains totalling more than 5% on Iran ceasefire signals, a pattern that behavioural research identifies as