Market Information Monday 2 June 2025

Trump announced he will double steel tariffs to 50%, citing protection for the U.S. industry, while accusing China of violating a trade deal. Meanwhile, his broader tariff agenda faces legal challenges: a trade court blocked them, but a federal appeals court issued a temporary stay. The White House is prepared to take the case to the Supreme Court if needed, signaling continued commitment to Trump’s tariff strategy.

The AEX rose 0.6% last week, supported by strong Nvidia earnings, despite renewed concerns over U.S. trade policy. President Trump threatened new tariffs but then partially backed down, fuelling continued market volatility. Analysts increasingly refer to the “TACO trade”—”Trump Always Chickens Out”—reflecting his pattern of retracting aggressive tariff threats.

The upcoming trading week focuses on key economic events, including U.S. job data and the ECB’s expected 25 basis point rate cut. Eurozone inflation figures and the Fed’s Beige Book will also be in the spotlight. Investors are hoping these data releases will offer more clarity on future monetary policy in both the U.S. and Europe.

The 6M Euribor increased with 2 basis points to 2.06% compared to previous business day. The 10Y Swap is unchanged at 2.50% compared to previous business day.

In the attachment, today’s market data on money and capital market rates as well as other rates are presented.