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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