Significant market volatility occurred in the second quarter of 2025 as the market was struggling with the
Middle East war and the uncertainties surrounding tariff policy and the S&P 500 fell precipitously in early
April after the announcement of sweeping reciprocal tariffs. However, those initial losses were gradually
recovered over the course of the quarter as initial tariff rates were lowered, economic growth remained
strong, and inflation remained low, enabling the S&P 500 to reach a new all-time high and end the quarter
with a significant gain. Also, Concerns about the sustainability of debt started to take precedence over
interest rate reductions in fixed income markets.
Investment report Q2 2025
SFB SA
05/11/2026