Global equity markets' abrupt sell-off, a fortnight ago now, emphasised equity markets' fragility in the latter stages of a mature economic cycle.
President Donald Trump may well continue to exert a major influence over markets as he berates his Federal Reserve chairman, tweets as to how he wants a weaker dollar - especially against those that have built up large current account surpluses - and pursues his own unique policy; create a problem, solve it and win public approval (votes). Are central banks at a crossroads or a dead-end? President Trump reasoned that those countries with substantial current account surpluses should have a stronger currency. He has a point, but his main goal is to be re-elected. Increased global equ...
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