May 2025 Market digest
Market overview for May 2025, including asset class returns, US equity rebound, and tariff-related market impacts.
11 Jun 2025
Below are some key highlights from what happened in markets throughout May 2025:
- Markets rebounded in May from the initial shock of Trump’s tariff announcements.
- US equity markets, in particular, performed well but bonds were more mixed following fiscal concerns in the US Treasury bond market.
In our overview, we also provide market commentary to cover the past year to 31 March 2025.
For more details, please download our full Market Digest below!
If you have any questions or would like to find out more, please get in touch.
