Mr Trump was just where he wanted to be – the centre of attention at the #WEF in #Davos. Fortunately for investors, he climbed down from his "gotta have Greenland" position to reach some sort of undisclosed "deal" with the Europeans. Concurrently, JGB yields spiked with investors spoked by the budget outlook in Japan. Ultimately, US and European stocks ended the week lower, as Asian and emerging stocks drove gains. Gold continues to power ahead.

A deferred reaction to war in the Middle East meant that equities rallied and bonds sold off in the first half of the week, but then......

The week started poorly but by the end of the week, the Fed had provided just enough fuel to stoke on buy-the-dip investors.

After a couple of weeks characterised by high volatility and slow starts / strong finishes, this past week was void of nearly as much drama.