The prospect of a settlement to the conventional elements of the trade war is helping sentiment. As discussed by Mark Tinker, Head of AXA Framlington Equities in Asia, it is in everybody’s interest to settle the tariff issue. However, the policies aimed (perhaps quixotically) at trying to limit Chinese growth, are very much still on the table. The issues over Huawei are perhaps the most visible aspect of this, but it does introduce a level of policy-dependent idiosyncratic risk for portfolios.Read More
America’s interests — not to mention image — took a major hit in Helsinki during the meeting between US President Donald Trump and Russian President Vladimir Putin. This is more than sufficient to provoke America’s concern about the direction Donald Trump is taking the country.