Weekly Note: Can “Trade Wars” derail the risk rally?

Good Day,

Despite better than expected earnings, with 80% of the S&P 500  beating estimates, some markets are losing momentum. Importantly, global equities have undergone almost zero-change due to declines in both Europe and Japan which have off-set gains in the US; credit spreads stopped tightening in the US high-grade, the Euro high yield, and the EM sovereigns plus corporates. Meanwhile, volatility rose to three-month highs both in currencies and US rates.

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GM360 Note – 1st February 2018

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Categories: Daily Note