Traders work on the floor of the New York Stock Exchange, flanked by a television screen showing Federal Reserve chairman Jerome Powell’s news conference on June 19. Photo: Reuters
Nicholas Spiro
Opinion

Opinion

Macroscope by Nicholas Spiro

Risks posed by trade war and Federal Reserve policy are graver than investors seem to realise

  • Markets must come to terms with the fact that China and the US are too far apart on crucial issues for the trade war to be resolved soon
  • When central banks themselves have become sources of volatility, investors must wake up to the dangers of underpricing risk

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Traders work on the floor of the New York Stock Exchange, flanked by a television screen showing Federal Reserve chairman Jerome Powell’s news conference on June 19. Photo: Reuters
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Chinese President Xi Jinping and US President Donald Trump, seen in Beijing in 2017, are expected to attend the G20 summit in Osaka at the end of the month. Photo: Kyodo
Aidan Yao
Opinion

Opinion

Macroscope by Aidan Yao

What hope of a G20 Xi-Trump trade war breakthrough? Don’t hold your breath

  • Even with Xi and Trump now expected to meet at the G20, increased tension and rhetoric mean both sides appear braced for the worst. Tariffs are likely to remain in force, both US and China are likely to keep rates low and the yuan may slide further

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Chinese President Xi Jinping and US President Donald Trump, seen in Beijing in 2017, are expected to attend the G20 summit in Osaka at the end of the month. Photo: Kyodo
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