Macro Round-up – December 9th 2019

Donald Trump is somehow overseeing or threatening to conduct trade wars on three continents. The US China Trade War we have discussed in previous missives as investors focus on December 15th where the application of new tariffs on Chinese goods is a possibility. The...

Macro Round-up – December 2nd 2019

The US government signed a bill which in essence reprimanded the Chinese authorities in relation to their actions with Hong Kong protestors. This provides an added complication to trade War negotiations, with Chinese authorities threatening retaliation (sale of USTs,...

Macro Round-up – November 25th 2019

The minutes of the last Federal Reserve meeting provided few surprises. The Federal Reserve is likely, in the short term, to continue to provide verbal support to the economy as they await developments in the Trade War saga and the impact of their three cuts in short...

Macro Round-up – November 20th 2019

Confusing and contradictory statements were the leading characteristic of news flow in the US China trade war over the last week. Market sentiment remains positive and investors anticipate some form of agreement that will be marketed as “Phase 1”. The risk to this...

Macro Round-up – November 11th 2019

At the start of last week Investors received some positive news flow with regards the ongoing US China trade war. There were suggestions that an agreement to Phase 1 of the negotiations would be shortly signed and more importantly there would be a gradual roll back of...

Macro Round-up – November 4th 2019

The Federal Reserve (Fed) reduced short term interest rates by 0.25%. This was the third cut of 0.25% this year and Powell was at pains to highlight that a fourth cut should not be automatically assumed. In essence, the Fed indicated to investors that there would be a...