🕊️ Pope Francis, Panic Buying, and Why Your Nani’s Jewelry Box Is the Real Winner

THE WEEKLY STEEP

Where did the idli go to party?
The Sam‘bar’ - because it’s all about getting dipped and lit. 🎉🍛

(Got a better one? Reply to this email with your best chai-time joke!)

WHAT’S BREWING 🫖

Global:

• 🕊️ Global Farewell: Pope Francis Passes Away at 88

  Pope Francis died on Easter Monday, April 21, 2025, at age 88. The Vatican confirmed the cause as a stroke followed by cardiac arrest. His body will lie in state at St. Peter’s Basilica through April 25, with a public funeral set for April 26. Read more

  Why it matters (especially for diaspora Catholics):

  • This triggers an age-old process to elect a new pope, from breaking the papal seal to the secretive conclave that will likely begin after May 6.

  • The funeral is expected to bring over 200,000 mourners and dozens of world leaders to Rome, including many from South Asia’s robust Catholic communities.

  ICYMI context: Pope Francis was the first Latin American pontiff, and often emphasized inclusion from interfaith outreach to speaking up on migration and climate justice.

• 🇺🇸🤝🇮🇳 JD Vance’s India Trip Wasn’t Just Optics - It May Redefine Trade

  For four days in April 2025, U.S. Vice President JD Vance and Second Lady Usha Vance (yes, she’s Indian American) toured India with their kids mixing statecraft with symbolism. Read more

  Highlights that matter for your WhatsApp group:

  • The U.S. and India agreed to launch a formal Bilateral Trade Agreement. Think: fewer tariffs on $23B of U.S. farm goods and a push for lower duties on Indian IT and pharma exports.

  • There's a 90-day tariff pause window, now live, giving both countries a chance to smooth out decades of trade tension.

  • Vance also hit iconic spots like the Taj Mahal and Akshardham, but made time for a keynote in Jaipur, where he emphasized the Quad alliance and called India “the Indo-Pacific’s essential anchor.”

  Real-life takeaway: If you’re part of the diaspora with ties to trade, tech, or agriculture, keep tabs. This deal-in-progress could reshape supply chains and potentially ease business barriers for cross-border entrepreneurs.

  And yes, it was personal: Usha Vance’s presence, with their kids in tow, was more than a photo op. It was a subtle but powerful nod to the growing Indian American footprint in U.S. politics and policy.

U.S.:

• Consumer Confidence Crashes: Here’s What’s Really Going On

  The University of Michigan's consumer sentiment index just dropped like your crypto portfolio in 2022, falling to 52.2 in April. That's down 8.4% since March, and a massive 32.4% from last year. Read more 

  Why everyone’s nervous:

  • Tariffs. Inflation. Political gridlock. Take your pick - it’s all feeding into a growing fear that the economy is entering rough waters.

  • The expectations index (basically: how people think the next 6 months will go) dropped 10.1% this month. That’s the sharpest 3-month plunge since the early ‘90s recession.

  Why this matters for your fam: When confidence drops, spending usually slows and that ripple effect hits jobs, growth, and even interest rates. For South Asian Americans trying to balance saving, sending remittances, and investing across continents, this isn't just a stat, it’s a signal.

• Americans Are Panic-Buying Before Tariffs Hit, But It Won’t Last

  According to JPMorgan, consumer spending jumped 3.8% year-over-year in the first half of April. But don’t call it a comeback, it’s more of a tariff-fueled sprint.

  • Discretionary spending (think gadgets, furniture, and anything that comes in an Amazon box) soared 43%.

  • Non-discretionary spending (gas, groceries, rent) crept up by 2.9%.

    “Data may reflect a pull-forward of discretionary big-ticket purchases,” JPMorgan analysts said. Translation: people are shopping now to avoid paying more later. Read more 

  What this means: This mini-boom isn’t sustainable. It’s anxiety-driven spending, and once tariffs kick in, expect a cool-down. For anyone eyeing a big buy or sending care packages back home, prices are likely heading up.

• U.S. Housing Market Still in a Slump, Even With More Homes for Sale

  Home sales fell 2.3% from February to March, and are down 8.7% compared to last year. Even with more listings on the market, buyers aren’t biting.

  • Median price: $412,700. Up 2.1% from 2024 but essentially flat when adjusted for inflation.

  • First-time buyers: Just 27% of the market (historically it’s closer to 40%). Read more 

  Big picture: With mortgage rates still high, younger and first-gen buyers, many of whom are also managing family responsibilities abroad are being priced out. The wealth gap keeps widening, and that impacts everything from mobility to mental health.

South Asia:

• South Asia on Edge: Terror Attack in Kashmir Sparks India-Pakistan Crisis

  On April 22, five militants attacked tourists near Pahalgam, Jammu & Kashmir, killing 28 and injuring over 20 in India's deadliest terror attack since Mumbai 2008. The attackers, linked to a Pakistan-based group, targeted non-Muslim tourists and fled into the forests. Read more 

  The fallout:

  • India suspended the Indus Waters Treaty for the first time since 1960, halted visas, and closed the Attari border.

  • Pakistan shut its airspace, cut trade ties, and warned that restricting river flows would be treated as an act of war.

  Why it matters: The unraveling of the Indus Waters Treaty, long seen as a stabilizer between two nuclear neighbors, raises fears of broader conflict, with global powers now under pressure to intervene.

MONEY MOVES 💰

Markets Last Week:

• S&P 500: +4.1%

• Dow: ​+2%

• Nasdaq: +4.7%

• Bitcoin: $95,352

• Sensex: 79,212

• USD-INR: ₹85.37

Notable Takes:

• Gold: New all-time high, up +2.6% this week, driven by safe-haven demand, Fed policy expectations, and trade/geopolitical tensions

• Apple (AAPL): Up +7%; Strong earnings report and tariff relief optimism

• Nvidia (NVDA): Up +6%; Fueled by ongoing AI optimism and portfolio reallocations

• Tesla (TSLA): Up +13%; Positive earnings surprises and early buzz around affordable new models

• Chipotle (CMG): Up +5%; Strong same-store sales growth and investor excitement over expansion plans

✨ PSA for the family CFOs: Gold’s making headlines, but South Asians? We’ve been playing the long game. Read why it’s just another Tuesday at the locker

PLAY BY PLAY 🏏 

IPL: 

• Punjab Kings Edge Out Royal Challengers Bengaluru (April 18): In a low-scoring thriller at M. Chinnaswamy Stadium, Punjab Kings beat RCB by 5 wickets.

• Gujarat Titans Overpower Kolkata Knight Riders (April 21): Titans posted a commanding 198/3 at Eden Gardens and cruised to a comfortable win as KKR despite Ajinkya Rahane’s efforts struggled to chase.

• Player Spotlight:

  • Tim David: Lone warrior for RCB with a defiant 50+.

  • Nehal Wadhera: Ice cool under pressure to steady Punjab’s chase.

  • Yuzvendra Chahal: More wickets, more masterclass.

• Want more IPL match recaps, streaming tips, and snack hacks? Check out our Ultimate Guide for U.S. fans and sign up for the newsletter!

Tennis: Carlos Alcaraz Pulls Out of Madrid Open, Shaking Up a Wide-Open Clay Season. World No. 3 Carlos Alcaraz has officially withdrawn from the 2025 Madrid Open where he was the defending champion due to muscle injuries and what he called a “really tight” playing schedule.

Golf: Next Men's Major: PGA Championship at Quail Hollow Club, Charlotte, NC, May 15-18.

F1: Oscar Piastri’s win in Jeddah propels him to the top of the drivers’ standings, with McLaren (151) extending their lead in the constructors’ championship.

NBA: The Cavaliers (2-0), Celtics (2-0), Pacers (2-0), and Thunder have all seized early control of their series, with Oklahoma City leading 3-0 and eyeing the first sweep of the playoffs. Meanwhile, the Knicks edged ahead of the Pistons (2-1) in a tense series, the Clippers grabbed momentum against the Nuggets (2-1), and both the Rockets-Warriors and Lakers-Timberwolves battles are tied 1-1 heading into pivotal Game 3s.

RAISING ROOTS 🌱 

🌟 May the Chai Be With You: Your 2025 Star Wars Day Survival Guide

May 4th is here and whether you're a hardcore fan or someone who still confuses Star Wars with Star Trek (it's fine, we love you), we’ve got you.

• Why South Asians secretly love Star Wars: Family drama? Ancient wisdom? Dramatic aunties? We've been ready.

• What to eat: Lightsaber dosas, Wookiee cookies, Jabba-shaped pani puri, and Galaxy Chai because...duh.

• What to watch: Start with A New Hope or binge The Mandalorian (with samosas in hand).

• How to celebrate: Blend desi + Jedi style, throw a chai-fueled marathon, and flex your Force vibes.

✨ See the full guide here

LIVlNG WELL  🍵

🐎🌹 Your Kentucky Derby 2025 Survival Kit (No Horse Experience Needed)

Heading to a Derby party? Whether you’ve never ridden a horse (but did overfeed a cousin’s wedding pony), this cheat sheet will have you sounding like a pro in two minutes flat:

• What to Wear: Think auntie-level hats, pastel swagger, and “bold choices only” energy.

• What to Drink: Master the mint julep, bourbon, crushed ice, mint, done.

• How to Sound Smart: Say “closing speed” and “Santa Anita Derby” with dramatic pauses.

• Betting Basics: $2 bets are your friend. Superfectas are astrology with worse odds.

• Pro Tip: Blame bad bets on the juleps, not your instincts.

✨ Get the full Derby guide here

🌮🥂 Cinco de Mayo, But Make It Masala

Taco night just got a glow-up. This Cinco de Mayo, skip the stress and host a fusion fiesta where chaat meets chili-limeand tamarind margaritas steal the show.

• Masala Taco Bar: Chicken tikka + crushed papadum + mint chutney = everyone's new go-to taco.

• Chaat Nachos: Tortilla chips + chaat masala + sev. They’ll vanish before you sit down.

• 3-Ingredient Cocktails: Imli margaritas and mango-chili palomas for the win (plus a killer nimbu pani mocktail!).

Add some string lights, marigolds, and a playlist that moves from Bad Bunny to Bally Sagoo and you’ve got a party no one will forget.

Get the full fusion party guide

COSMIC CHAI 🔮

✨ May Vibes Are Vibing: Your Weekly Horoscope Cheat Sheet

New moon, grounded energy, and a Venus-Mars glow-up? It’s giving cosmic reboot across all signs. Whether you're soft-launching a situationship or just reorganizing your spice rack by chakra, this week is your chance to align routines and romantic tension.

🌿 Earth signs: Moisturized, magnetized, and moving in silence (with spreadsheets).
🌊 Water signs: Emotional resets + playlist therapy.
🔥 Fire signs: Bold moves only, just don’t burn out.
🌬 Air signs: Flirt, focus, and finally log off.

🌚 Read your full sign-by-sign forecast here

EDITOR'S PICK 📚 

But What Will People Say? by Sahaj Kaur Kohli

If you’ve ever whispered “therapy” like it’s a secret or felt like you’re carrying two cultures on your back, this book is your emotional reset. Mental health expert Sahaj Kaur Kohli (founder of Brown Girl Therapy) gives us tools, scripts, and validation for healing in a way that honors our roots and our boundaries.

✨ Think:
- Real talk on burnout, identity, and guilt
- Culturally fluent ways to set boundaries (without blowing up the group chat)
- Quotes you’ll screenshot and send to your cousin immediately

Why we love it: It’s the book your older cousin would recommend after therapy, wise, warm, and written for us.
📖 Explore more from this week’s pick 

UPCOMING WEEK (April 25 - May 2, 2025) 🗓️

• April 24-27: NFL Draft 2025 (Round 1 on April 24, Rounds 2-7 through April 27)

• April 25: Movies (Theater):

  • The Accountant 2

  • Until Dawn

  • The Legend of Ochi

  • Star Wars: Episode III: Revenge of the Sith (20th anniversary re-release)

• April 25-May 2:

  • NBA Playoffs: Games 3-6 for matchups including Nuggets vs. Clippers, Lakers vs. Timberwolves, Thunder vs. Grizzlies

  • NHL Playoffs: Games 3-6 including Capitals vs. Canadiens, Hurricanes vs. Devils, and others

• April 27: 2025 London Marathon

SHARE THE CHAI 📤☕

Enjoyed this week's brew? Forward to that cousin who's been explaining the market volatility to everyone in the family WhatsApp, they'll appreciate our breakdown of the tariff drama.