Axiome Quarterly Q2 2025

After a wild start to the quarter, the end outcome was a quite remarkable increase in asset values across almost every major asset class.  In early April, just two days into the quarter, the US President surprised everyone—potentially including himself—with the size and severity of tariffs, especially against China.  Global share markets tumbled at a rate not seen since the Covid pandemic.  For example, US shares (S&P500) fell by 12% over a period of days.