Silicon Valley Bank – Quarterly Economic Report, 3Q2025

The report focuses on economic and market factors affecting global markets and business health in the third quarter of 2025.

Key findings include cautious optimism in the US despite policy uncertainties, ongoing tariff negotiations and geopolitical tensions causing market volatility, a 2.7% year-over-year increase in the core inflation indicator preferred by the Federal Reserve by the end of May, a flattening US Treasury yield curve indicating market normalization, resilience and positive returns in the bond market, recovery of US stocks, particularly in the tech sector, low unemployment rates, stable labor market conditions, and the Federal Open Market Committee (FOMC) keeping interest rates unchanged for the second consecutive quarter in 2025, with uncertainty remaining regarding the impact of tariffs on inflation.