External broker reports(aggregated public sources), BRI Danareksa Research

BRI Danareksa Research

External broker reports(aggregated public sources)

As a one-stop financial solution with the vision to be the most valuable securities house, BRI Danareksa Sekuritas (BRIDS) has maintained an excellent track record and extensive experience in the capital market as an underwriter, broker, and financial advisor for individual, institutional, foreign and domestic, private and government clients. Established in 1992, PT Danareksa Sekuritas is a securities company that performs activities as a securities broker, underwriter, or arranger and financial advisor.

Macroeconomics

<ul><li>Volatility starts to ease, though not yet out of the woods. As of 12th Apr25, Trump’s latest escalation (i.e., pushing U.S. tariffs on Chinese imports to 145%) and China’s response (raising tariffs on U.S. goods to 125%) have kept VIX at 30-40, but down from 55 on 7th Apr25.</li><li>Overall, Trump’s pause, latest exemptions, and China’s latest rhetoric to “not go higher” hint that both sides may see diminishing returnsfrom the tariffs retaliations and signal a possible negotiation.</li><li>Nonetheless, we think uncertainty remains and volatility could persist (VIX at 30-40) unless there is a concrete deal.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Volatility starts to ease, though not yet out of the woods. As of 12th Apr25, Trump’s latest escalation (i.e., pushing U.S. tariffs on Chinese imports to 145%) and China’s response (raising tariffs on U.S. goods to 125%) have kept VIX at 30-40, but down from 55 on 7th Apr25.Overall, Trump’s pause, latest exemptions, and China’s latest rhetoric to “not go higher” hint that both sides may see diminishing returnsfrom the tariffs retaliations and signal a possible negotiation.Nonetheless, we think uncertainty remains and volatility could persist (VIX at 30-40) unless there is a concrete deal.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

BRIDS Market Pulse: Chart of the Week – USD Vs. Gold

Head of Research and Global Chief Strategist, Steno Research

Andreas Steno

Head of Research and Global Chief Strategist

Macro and Geopolitical Research House

Steno Research

Steno Research is a new macro and geopolitical research house. We are based out of Copenhagen, Denmark, but have an international team and a strong network of sources and partners around the world. The team is lead by Andreas Steno, previous global head of strategy at Nordea Bank, and Mikkel Rosenvold, former chief consultant in the Danish Ministry of Finance.

<ul><li>Happy Sunday from Copenhagen, if I am allowed to say that after a horrendous week in markets.</li><li>Markets are heading into a tense week as the U.S.-China trade tensions escalate and Europe appears poised to introduce digital tariffs — likely targeting the Magnificent 7 — in response to Trump’s proposed tariff agenda.</li><li>By late Friday, the U.S. dollar surged sharply, accompanied by early signs of capitulation in traditional safe-haven assets like gold and Treasuries.</li></ul>

Happy Sunday from Copenhagen, if I am allowed to say that after a horrendous week in markets.Markets are heading into a tense week as the U.S.-China trade tensions escalate and Europe appears poised to introduce digital tariffs — likely targeting the Magnificent 7 — in response to Trump’s proposed tariff agenda.By late Friday, the U.S. dollar surged sharply, accompanied by early signs of capitulation in traditional safe-haven assets like gold and Treasuries.

Steno Signals #192 – A March 2020 style reset. Is this a liquidity event?

<ul><li>A wave of growth-negative news has rolled in since the weekend.</li><li>Trump is reportedly furious with Putin and is now considering secondary tariffs on Russian oil—an escalation that would weigh on global growth.</li><li>Meanwhile, there’s no clear path to peace in Ukraine, with Russia holding the cards and continuing to gain ground, adding further geopolitical drag.</li></ul>

A wave of growth-negative news has rolled in since the weekend.Trump is reportedly furious with Putin and is now considering secondary tariffs on Russian oil—an escalation that would weigh on global growth.Meanwhile, there’s no clear path to peace in Ukraine, with Russia holding the cards and continuing to gain ground, adding further geopolitical drag.

Steno Signals #191: Meowing at Robots Ahead of Liberation Day!

HarmoniQ Insights

William Mann

Independent Insight Provider

At HarmoniQ Insights, we empower investors to enhance their investment strategies by integrating cutting-edge quantitative research processes and technologies. Our solutions provide access to leading quantitative data providers and services, tailored to align with each client’s unique goals. By bridging the gap between traditional investment approaches and advanced data-driven methods, we help clients gain a competitive edge through innovation in both process and technology.

Cross Asset Strategy

<ul><li>Podcast delayed, markets rebounded last week, led by news of reduced impact of Trump's tariffs</li><li>Fed slowed pace of quantitative tightening, reducing pressure on treasury market liquidity</li><li>Bitcoin and gold prices fluctuate, Chinese stocks rebound, DAX up 20% year to date, US equities impacted by tariffs and job losses</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Podcast delayed, markets rebounded last week, led by news of reduced impact of Trump's tariffsFed slowed pace of quantitative tightening, reducing pressure on treasury market liquidityBitcoin and gold prices fluctuate, Chinese stocks rebound, DAX up 20% year to date, US equities impacted by tariffs and job lossesThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Tariffs, Tapering, and Tectonic Shifts: Markets Brace for April | The New Barbarians #013

Geopolitical Analyst, Steno Research, Steno Research

Mikkel Rosenvold

Geopolitical Analyst, Steno Research

<ul><li>Welcome to our weekly editorial on everything geopolitics- and commodities! We are approaching the “Liberation Day” on Apr 2 where we will (hopefully) get more clarity around the tariffs plans from Trump.</li><li>We have recently seen a semi-u-turn from the Trump administration on the severity and depth of the reciprocal tariffs announced next week, and the base-case is a softer stance with some negotiated exemptions for big partners.</li><li>This is also exactly what paves the way for a very decent comeback in US risk assets now, something that we expect to continue into April when the softened USD and slightly lower USD bond yields start feeding through via easier financial conditions.</li></ul>

Welcome to our weekly editorial on everything geopolitics- and commodities! We are approaching the “Liberation Day” on Apr 2 where we will (hopefully) get more clarity around the tariffs plans from Trump.We have recently seen a semi-u-turn from the Trump administration on the severity and depth of the reciprocal tariffs announced next week, and the base-case is a softer stance with some negotiated exemptions for big partners.This is also exactly what paves the way for a very decent comeback in US risk assets now, something that we expect to continue into April when the softened USD and slightly lower USD bond yields start feeding through via easier financial conditions.

The Drill: Approaching the End of the Tariff and Peace Trades?

United States

The US dollar is the official currency of the United States of America.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

USD (USD CURNCY)

BRIDS Market Pulse: Chart of the Week – USD Vs. Gold

As of 12th Apr25, Trump’s latest escalation (i.e., pushing U.S. tariffs on Chinese imports to 145%) and China’s response (raising tariffs on U.S....

BRI Danareksa Research

Steno Signals #192 – A March 2020 style reset. Is this a liquidity event?

Happy Sunday from Copenhagen, if I am allowed to say that after a horrendous week in markets. Markets are heading into a tense week as the...

Steno Research

Steno Signals #191: Meowing at Robots Ahead of Liberation Day!

A wave of growth-negative news has rolled in since the weekend. Trump is reportedly furious with Putin and is now considering secondary tariffs on...

Steno Research

Tariffs, Tapering, and Tectonic Shifts: Markets Brace for April | The New Barbarians #013

Due to market volatility, the podcast will be delayed, with stocks rebounding last week and continuing to rise today, especially with the Dow up...

William Mann

The Drill: Approaching the End of the Tariff and Peace Trades?

Welcome to our weekly editorial on everything geopolitics- and commodities! We are approaching the “Liberation Day” on Apr 2 where we will...

Steno Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)