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Investment Bank

Investment Bank

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Welcome to the jungle

  • Markets’ general benign global macro narrative has been dealt a blow this week, as US-China relations have taken a turn for the worse.
  • Geopolitical tensions have heightened and incoming data have raised concerns about the underlying economic strength.
  • While not all risks may actually materialise, a protraction of the US-China trade conflict and additional tariffs in the coming months is looking increasingly likely.
  • Next week, the focus may turn back to Europe, as EU parliament elections are on the agenda, while UK politics have become even more complicated.
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