US President Donald Trump speaks during a campaign event at Arnold Palmer Regional Airport in Pennsylvania on September 3. America could be plunged into a constitutional crisis if Trump disputes the 2020 election outcome. Photo: AFP US President Donald Trump speaks during a campaign event at Arnold Palmer Regional Airport in Pennsylvania on September 3. America could be plunged into a constitutional crisis if Trump disputes the 2020 election outcome. Photo: AFP
US President Donald Trump speaks during a campaign event at Arnold Palmer Regional Airport in Pennsylvania on September 3. America could be plunged into a constitutional crisis if Trump disputes the 2020 election outcome. Photo: AFP
Nicholas Spiro
Opinion

Opinion

Macroscope by Nicholas Spiro

Markets got the US election and Brexit wrong in 2016 and are none the wiser in 2020

  • ‘Soft’ issues like social cohesion have become critical to political and economic stability but are hard to gauge
  • Yet that has not stopped investors from betting on politics, in the hope of making a profit

US President Donald Trump speaks during a campaign event at Arnold Palmer Regional Airport in Pennsylvania on September 3. America could be plunged into a constitutional crisis if Trump disputes the 2020 election outcome. Photo: AFP US President Donald Trump speaks during a campaign event at Arnold Palmer Regional Airport in Pennsylvania on September 3. America could be plunged into a constitutional crisis if Trump disputes the 2020 election outcome. Photo: AFP
US President Donald Trump speaks during a campaign event at Arnold Palmer Regional Airport in Pennsylvania on September 3. America could be plunged into a constitutional crisis if Trump disputes the 2020 election outcome. 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.