A half-year roundup: 50 events shaping 2025 so far

The graphs show MSCI World Index price return and the 10-year Treasury with markers for specific events. On 01/07/2025, Los Angeles experienced the most destructive wildfire in its history. On that day, the MSCI World Index returned 0.70% year-to-date, while the 10-year Treasury yield was 4.69%. On 01/13/2025, China announced a record trade surplus of $990 billion, producing a third of the world’s manufactured goods. On that day, the MSCI World Index returned -0.87% year-to-date, while the 10-year Treasury yield was 4.78%. On 01/19/2025, the Israel-Hamas ceasefire came into effect in Gaza as the first Israeli hostages were released. On that day, the MSCI World Index returned 1.91% year-to-date, while the 10-year Treasury yield was 4.63%. On 01/19/2025, TikTok was banned in the United States for approximately 12 hours. On that day, the MSCI World Index returned 1.91% year-to-date, while the 10-year Treasury yield was 4.63%. On 01/20/2025, Donald Trump was inaugurated as the 47th President of the United States for a second term, with JD Vance sworn in as Vice President. On that day, the MSCI World Index returned 2.19% year-to-date, while the 10-year Treasury yield was 4.63%. On 01/20/2025, Trump officially created the Department of Government Efficiency (DOGE) led by Elon Musk. On that day, the MSCI World Index returned 2.19% year-to-date, while the 10-year Treasury yield was 4.63%. On 01/24/2025, Venture Global’s IPO raised $1.75 billion, making it the largest U.S. IPO so far this year. On that day, the MSCI World Index returned 3.98% year-to-date, while the 10-year Treasury yield was 4.62%. On 01/27/2025, DeepSeek, a Chinese rival to OpenAI’s ChatGPT, was introduced, causing a sharp decline in the Nasdaq. On that day, the MSCI World Index returned 2.86% year-to-date, while the 10-year Treasury yield was 4.53%. On 01/27/2025, Nvidia stock fell by $588.8 billion, the most a stock has ever lost in a single day. On that day, the MSCI World Index returned 2.86% year-to-date, while the 10-year Treasury yield was 4.53%. On 02/01/2025, Trump signs an executive order: 25% tariffs on goods from Canada and Mexico, and 10% on China. On that day, the MSCI World Index returned 3.47% year-to-date, while the 10-year Treasury yield was 4.54%. On 02/02/2025, Beyoncé’s Cowboy Carter won a Grammy for Album of the Year, and Kendrick Lamar won Grammys for Song and Record of the Year. On that day, the MSCI World Index returned 3.47% year-to-date, while the 10-year Treasury yield was 4.54%. On 02/06/2025, Amazon said it planned to boost its capital expenditures to $100 billion for the year. On that day, the MSCI World Index returned 4.19% year-to-date, while the 10-year Treasury yield was 4.43%. On 02/09/2025, the Philadelphia Eagles beat the Kansas City Chiefs 40-22 to win Super Bowl LIX. On that day, the MSCI World Index returned 3.39% year-to-date, while the 10-year Treasury yield was 4.49%. On 02/10/2025, Trump signed an executive order imposing 25% tariffs on all aluminum and steel imports. On that day, the MSCI World Index returned 3.94% year-to-date, while the 10-year Treasury yield was 4.50%. On 02/27/2025, OpenAI launched GPT-4.5, its largest and best model for chat yet. On that day, the MSCI World Index returned 1.69% year-to-date, while the 10-year Treasury yield was 4.26%. On 03/02/2025, Anora director Sean Baker tied Disney for most Oscar wins in one night at the 97th Academy Awards. On that day, the MSCI World Index returned 2.70% year-to-date, while the 10-year Treasury yield was 4.21%. On 03/03/2025, TSMC announced plans to invest $100 billion in U.S. chip manufacturing. On that day, the MSCI World Index returned 1.78% year-to-date, while the 10-year Treasury yield was 4.16%. On 03/07/2025, Nikola Jokić made NBA history, recording the league’s first ever 30-point, 20-rebound, 20-assist game. On that day, the MSCI World Index returned 1.01% year-to-date, while the 10-year Treasury yield was 4.30%. On 03/13/2025, it was the five-year anniversary of Trump declaring COVID a national emergency in the United States. On that day, the MSCI World Index returned -2.79% year-to-date, while the 10-year Treasury yield was 4.27%. On 03/14/2025, Mark Carney was sworn in as Canada’s new Prime Minister, replacing Justin Trudeau after nine years. On that day, the MSCI World Index returned -0.95% year-to-date, while the 10-year Treasury yield was 4.31%. On 03/18/2025, Google announced its agreement to acquire cybersecurity firm Wiz for $32 billion, its largest acquisition ever. On that day, the MSCI World Index returned -0.76% year-to-date, while the 10-year Treasury yield was 4.28%. On 03/21/2025, Germany’s major fiscal reform was approved by amending the constitution to allow increased defense spending. On that day, the MSCI World Index returned -0.29% year-to-date, while the 10-year Treasury yield was 4.25%. On 03/28/2025, CoreWeave raised $1.5 billion in its IPO, marking the biggest AI-cloud IPO. On that day, the MSCI World Index returned -1.76% year-to-date, while the 10-year Treasury yield was 4.25%. On 03/29/2025, the New York Yankees set a franchise record for home runs in a single game against the Milwaukee Brewers. On that day, the MSCI World Index returned -1.76% year-to-date, while the 10-year Treasury yield was 4.25%. On 04/02/2025, Trump announced “Liberation Day” tariffs: 10% baseline tariffs and additional duties on select countries. On that day, the MSCI World Index returned -0.83% year-to-date, while the 10-year Treasury yield was 4.13%. On 04/06/2025, Alex Ovechkin surpassed Wayne Gretzky’s record to become the NHL’s all-time leading goal scorer. On that day, the MSCI World Index returned -12.16% year-to-date, while the 10-year Treasury yield was 4.18%. On 04/09/2025, Trump increased tariffs on China to 125%, but paused new tariffs on every other country for 90 days. On that day, the MSCI World Index returned -6.08% year-to-date, while the 10-year Treasury yield was 4.33%. On 04/11/2025, the University of Michigan’s one-year ahead inflation expectations increased to 6.7%, the highest level since 1981. On that day, the MSCI World Index returned -5.88% year-to-date, while the 10-year Treasury yield was 4.49%. On 04/14/2025, Nvidia announced plans to produce up to $500 billion worth of AI infrastructure in the United States over four years. On that day, the MSCI World Index returned -4.64% year-to-date, while the 10-year Treasury yield was 4.37%. On 04/15/2025, Katy Perry went to space as part of an all-female crew on a Blue Origin New Shepard rocket flight. On that day, the MSCI World Index returned -4.40% year-to-date, while the 10-year Treasury yield was 4.33%. On 04/21/2025, EURUSD broke 1.15 for the first time since 2021. On that day, the MSCI World Index returned -7.21% year-to-date, while the 10-year Treasury yield was 4.41%. On 04/27/2025, Liverpool defeated Tottenham Hotspur 5-1 to win its second Premier League title. On that day, the MSCI World Index returned -1.65% year-to-date, while the 10-year Treasury yield was 4.24%. On 04/30/2025, 5-10 year inflation expectations reached their highest level since the 1990s. On that day, the MSCI World Index returned -0.63% year-to-date, while the 10-year Treasury yield was 4.16%. On 04/30/2025, Microsoft reported its best-ever quarterly revenue and profit totals, generating $70.1 billion in revenue. On that day, the MSCI World Index returned -0.63% year-to-date, while the 10-year Treasury yield was 4.16%. On 05/03/2025, Sovereignty won the 151st edition of the Kentucky Derby. On that day, the MSCI World Index returned 1.26% year-to-date, while the 10-year Treasury yield was 4.31%. On 05/08/2025, Leo XIV was elected as the new pope, becoming the first North American to hold the position. On that day, the MSCI World Index returned 0.81% year-to-date, while the 10-year Treasury yield was 4.38%. On 05/13/2025, Saudi Arabia announced a $600 billion investment in the United States. On that day, the MSCI World Index returned 3.90% year-to-date, while the 10-year Treasury yield was 4.47%. On 05/15/2025, the United Arab Emirates announced plans to invest $1.4 trillion in the United States over the next 10 years. On that day, the MSCI World Index returned 4.40% year-to-date, while the 10-year Treasury yield was 4.43%. On 05/17/2025, Crystal Palace won its first-ever major trophy, defeating Manchester City 1-0 in the FA Cup final. On that day, the MSCI World Index returned 4.94% year-to-date, while the 10-year Treasury yield was 4.48%. On 05/22/2025, the House of Representatives narrowly passed the One Big Beautiful Bill Act. On that day, the MSCI World Index returned 3.79% year-to-date, while the 10-year Treasury yield was 4.53%. On 05/28/2025, Elon Musk left the Trump administration, saying that his “scheduled time” was coming to an end. On that day, the MSCI World Index returned 4.51% year-to-date, while the 10-year Treasury yield was 4.48%. On 05/31/2025, Paris Saint-Germain defeated Inter Milan 5-0 to win its first Champions League title. On that day, the MSCI World Index returned 4.97% year-to-date, while the 10-year Treasury yield was 4.40%. On 06/01/2025, Ukraine launched Operation Spiderweb, a series of 1,777 drone attacks on Russia, causing $7 billion in damage. On that day, the MSCI World Index returned 4.97% year-to-date, while the 10-year Treasury yield was 4.40%. On 06/13/2025, Israel launched surprise attacks on key military and nuclear facilities in Iran. On that day, the MSCI World Index returned 5.95% year-to-date, while the 10-year Treasury yield was 4.40%. On 06/19/2025, the Swiss National Bank cut its policy rate to 0%. On that day, the MSCI World Index returned 5.60% year-to-date, while the 10-year Treasury yield was 4.39%. On 06/22/2025, the U.S. Air Force and Navy attacked three nuclear facilities in Iran as part of the Iran-Israel conflict. On that day, the MSCI World Index returned 5.46% year-to-date, while the 10-year Treasury yield was 4.38%. On 06/23/2025, Tesla launched its robotaxi service in Texas, a major milestone for autonomous EV deployment. On that day, the MSCI World Index returned 6.08% year-to-date, while the 10-year Treasury yield was 4.35%. On 06/25/2025, NATO allies agreed to a new defense spending target of 5% of GDP annually by 2035. On that day, the MSCI World Index returned 7.22% year-to-date, while the 10-year Treasury yield was 4.29%. On 06/26/2025, Anna Wintour stepped down as the editor-in-chief of American Vogue. On that day, the MSCI World Index returned 8.09% year-to-date, while the 10-year Treasury yield was 4.24%. On 06/26/2025, the BEA’s estimate for GDP showed a 0.5% contraction in the U.S. economy for Q1, the first decline since 2022. On that day, the MSCI World Index returned 8.09% year-to-date, while the 10-year Treasury yield was 4.24%.