Recent reports

2nd Quarter 2025

Financial markets began the second quarter of 2025 in a very different position from the start of the year. Even after pausing the highest tariff levies, substantial changes in U.S. trade policy mean the effective tariff rate is now at the highest level since before WWI. Read further for more insights from the Nationwide Economics team

1st Quarter 2025

Risk assets had a stellar 2024. The stock market made new all-time highs and corporate bond spreads were extremely tight as the economy shook off recession worries thanks to favorable earnings, spending, and hiring trends. The economy is set to start 2025 on a solid note, which is fortunate since it faces heightened policy uncertainty and possibly greater challenges. Read further for more insights from the Nationwide Economics team