A trader works on the floor of the New York Stock Exchange. The US bond market is pricing on the assumption the US-China trade war will deliver a deflationary bust. Photo: Bloomberg
Tom Holland
Opinion

Opinion

Abacus by Tom Holland

US-China trade war: the financial markets are focused on the wrong risk

  • US bond market investors have been acting in a terrifying fashion, assuming a deflationary shock is ahead.
  • Such logic ignores trends from the last 30 years of globalisation

TOP PICKS

A trader works on the floor of the New York Stock Exchange. The US bond market is pricing on the assumption the US-China trade war will deliver a deflationary bust. Photo: Bloomberg
READ FULL ARTICLE