Britain’s Prime Minister Boris Johnson (right) welcomes US President Donald Trump to the Nato summit at the Grove Hotel in Watford, northeast of London, on December 4. Photo: AFP Britain’s Prime Minister Boris Johnson (right) welcomes US President Donald Trump to the Nato summit at the Grove Hotel in Watford, northeast of London, on December 4. Photo: AFP
Britain’s Prime Minister Boris Johnson (right) welcomes US President Donald Trump to the Nato summit at the Grove Hotel in Watford, northeast of London, on December 4. Photo: AFP
Nicholas Spiro
Opinion

Opinion

Macroscope by Nicholas Spiro

US-China trade deal and Boris Johnson’s election victory in Britain have stock market bulls cheering, but for how long?

  • Any rally rooted in a volatile, politically driven and protracted negotiation process, such as Brexit and the trade war, is inherently unsustainable
  • Scepticism in government bond markets indicates that investors are still deeply ambivalent about the outlook for the global economy next year

Nicholas Spiro
Nicholas Spiro

Updated: 5:31am, 20 Dec, 2019

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Britain’s Prime Minister Boris Johnson (right) welcomes US President Donald Trump to the Nato summit at the Grove Hotel in Watford, northeast of London, on December 4. Photo: AFP Britain’s Prime Minister Boris Johnson (right) welcomes US President Donald Trump to the Nato summit at the Grove Hotel in Watford, northeast of London, on December 4. Photo: AFP
Britain’s Prime Minister Boris Johnson (right) welcomes US President Donald Trump to the Nato summit at the Grove Hotel in Watford, northeast of London, on December 4. Photo: AFP
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Nicholas Spiro

Nicholas Spiro

Nicholas Spiro is a partner at Lauressa Advisory, a specialist London-based real estate and macroeconomic advisory firm. He is an expert on advanced and emerging economies and a regular commentator on financial and macro-political developments.