Monday Macro – As goes January, so goes 25?! Tariffs and the Black Swan event no-one mentions

We spin through returns for January and debate the tariff crisis – why messy, wicked politics trips up populists ideas

January: “So Goes January, So Goes the Year,” or maybe not…

I thought we’d start with my regular monthly rundown of leading equity benchmark indices.

Overall, the message is positive for equity investors: most equity markets had a bumper January and start to the year. The Swiss Market index was the biggest winner, with an 8.56% gain in January, closely f…