Trading Day: Markets rise above the fray
For all that the uncertainty around Washington's global tariff war and worrisome U.S. fiscal outlook continue to unnerve investors, not to mention the Trump-Musk public mud-slinging circus, world markets just closed out a quietly impressive week. Broad U.S., Asian, European and emerging market equity benchmarks all rose, pushing the MSCI World index to a fresh record high, while the dollar, Treasury yields and gold generally held steady over the week. Investors appear to be in a forgiving mood, willing to trust that policymakers will dial down global trade tensions, slow the U.S. fiscal train as it approaches the cliff edge, and steer the world economy through these choppy waters with minimum damage.