Weekly Espresso
Celebrating the first 100 days of a US president’s term became significant during FDR’s first term and the major reforms he announced during the Great Depression. Trump marked his 100th day in office on Tuesday with a campaign style speech in Michigan telling the crowd “We’ve just gotten started, you haven’t seen anything yet.” In the markets so far in his second term, the S&P is down nearly 7%, and the dollar has posted its worst performance since November 2022, contracting by -4.6%.