With tariffs on Switzerland still in focus, a small Swiss delegation travels to Washington to negotiate a resolution. Meanwhile, emerging tariff threats for semiconductors and pharmaceuticals are weighing on market sentiment. Beyond trade developments, investors must digest a slew of macroeconomic figures and reports from the ongoing earnings season. The US Federal Reserve is also in the spotlight, especially after President Trump announced his intention to nominate a new Fed Chair by the end of the week. To provide clarity amidst the market turmoil, we welcome Dario Messi, our Head of Fixed Income Research, and Mathieu Racheter, our Head of Equity Strategy, to the show today.