While tariffs remain a concern, the key issue is the degree���which we deem moderate���of U.S. recession risk. The current global backdrop makes the U.S. dollar unlikely to strengthen. Earnings growth expectations are modest, valuations are undemanding
A summary of the factors driving global markets over the last month.
Pascal���s Wager argues that belief makes more sense than disbelief when the worst outcome is a total loss.
Trade policy is of first-order importance in a more connected world, and markets have been reacting nervously to U.S. trade disputes.
We believe the Brexit negotiations will conclude with a relatively ���soft��� Brexit. But, as current media headlines show, there are still a number of compromises that need to be made on both sides to seal the deal.