24 September 2018

Bassanese Bites: Don’t mention the war – Week beginning: 24 September 2018

Global equities continued their ascent last week, steadfastly refusing to be concerned by the apparent ratcheting up in “trade war” frictions between the United States and China.  Bond yields also rose, with US 10-year bond yields now comfortably above 3%.  All up, markets are taking the current round of trade blows as “not as bad as feared”, with the US announcing last week it would  levy only a 10% tariff (rather than a once threatened 25%) on a further $US200 billion of Chinese imports, and China retaliating with a proposal to levy a tariff of 5-10% on $US60 billion of US imports.  Both measures are due to come into force this week.

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