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1 minutes to read by  BlueBay Fixed Income team Mar 7, 2025

February Review

  • Markets continued to trade with a positive tone in February although volatility increased towards month end. Thematically, trade and geopolitics dominated the narrative.

  • At the start of the month, there was investor angst around potential tariffs on Mexico and Canada followed by a relief rally when those tariffs were delayed.

  • On the geopolitical front, progress around Russia/Ukraine peace talks lent a positive tone to markets although the situation remains complicated and there have been some setbacks in early March.

  • Meanwhile, on the side of the economic data, US Consumer Price Index was higher than expected while the Fed’s preferred measure of inflation (core Personal Consumption Expenditures) showed a marginally better picture.

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