The rapid rebound in the sharemarket last month from the Trump administration’s disruptive tariff plans was driven by hedge funds exiting their bearish stock bets rather than a sustainable recovery, strategists say.
After a volatile month triggered by erratic policy announcements from the US president, Donald Trump, major stock indices from the ASX to Wall Street have largely returned to levels before the “liberation day” tariff shock on April 2 erased trillions of dollars in market value.
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Joanne Tran is a markets reporter for The Australian Financial Review in the Sydney newsroom. Connect with Joanne on Twitter. Email Joanne at jo.tran@afr.com
Sarah Jones is the Financial Review’s markets editor based in the Sydney newsroom. She has covered financial markets, economics and asset management for more than two decades including 12 years for Bloomberg in London. Connect with Sarah on Twitter. Email Sarah at sa.jones@afr.com
