Following last week’s turbulent equity market and the surprising sell off in bonds, we gathered our thoughts on the markets and what we’re watching closely.

Highlights from the week of April 4– April 10, 2025.

Markets experienced violent swings as equities vacillated throughout the week, treasuries sold off, and the dollar weakened.

Get the latest insights from our securitized credit desk.

With U.S. high yield markets starting from solid ground, our approach to managing trade risk is to limit unnecessary exposure to affected industries.

The fluid tariff situation is paralyzing businesses, worrying consumers, and confusing investors. In periods of high uncertainty, we believe the best approach is to remain steady and reassess whether portfolio allocations align with investment goals. Here’s how our teams are managing the current environment.

Voya’s Multi Asset Strategies and Solutions team is committed to helping our clients and investors weather turbulent times. Here’s our latest thinking and portfolio positioning.

U.S. equities were sharply lower, bringing some markets into correction territory, while bond yields fell significantly as investors moved toward safer instruments.

The markets were caught off guard by the scope of the tariffs, rattling the markets at a time when consumer spending and confidence are already under pressure.

The U.S. Economic Policy Uncertainty Index recently spiked to levels not seen since the Covid-19 pandemic. As of March 2025, the index has risen past 700, which is many multiples of the historical average. That has a couple potential implications for markets—the least of which is more volatility.