Monday Digest
Markets calibrate to Trump 2.0 We wrote before that US involvement in the Israel-Iran war was ‘priced in’ and therefore unlikely to hurt markets. Quite the understatement. US stocks approached all-time highs and oil prices fell the moment Iran struck a US...
Monday Digest
The risks are real – but priced in – up to this point of escalation Last week’s Israel-Iran escalation ended with higher oil prices, a slight knock to equities and a slightly stronger dollar. Even if that seemed a relatively muted reaction...
Monday Digest
Markets calm but not comfortable Markets’ reaction to the war that broke out Friday, after Israel’s strike on Iran, has been mild. Global stocks have fallen slightly, while gold prices and the dollar have edged up. Oil prices climbed the most –...
Monday Digest
Summer starts with less springGlobal stock markets edged close to all-time highs, but the Trump-Musk spat knocked Tesla shares – though thankfully not much else. The bust-up is probably less important than the week’s other political news: the UK Defence Review suggests...
Monday Digest
Complacency or checks and balances?The pullback a couple weeks ago has proved just a blip, thanks to the TACO trade (Trump Always Chickens Out) and a US trade court ruling Trump’s tariffs illegal (though the ruling was quickly suspended). Markets were happy...