The melt up continued in risk markets until late Friday morning, when a post of Mr Trump's Truth Social website reported that the U.S. would impose additional 100% tariffs on Chinese imports into the U.S. starting Nov 1st because of further restrictions by China on their export of critical earth minerals. In any event, this one way trajectory up needed a pause. Monday will be interesting!

The S&P 500 hit another record high, but stock investors reacted poorly to a weaker-than-expected jobs report for August. Bonds rallied, as a slowing US economy portends a weaker labor market and potentially slack demand, setting aside concerns about long-term inflation, at least for the time being. Gold continued on its tear.

NATO was front and centre last week as the annual NATO Summit was held in The Hague on Tuesday and Wednesday, making it an opportune time...

Tariffs followed by partial capitulation, a strategic crypto reserve, and further erosion in markets summed up another tumultuous week.

Inflation continues to confound, although investors largely shook it off. Market volatility remains elevated but stocks better WoW.

The week started with the Trump Administration announcing tariffs on Mexico, Canada and China, the first two of which were quickly rescinded

US markets responded favourably to new President Donald Trump’s first week in office, with bond yields holding steady and stock indices...

Global equities staged a nice rally last week, and government bond yields fell in the US and UK. Oil, gold and Bitcoin were all higher.

To my knowledge there has never been a pre-emptive self-pardon, so this will certainly be breaking new ground.