It is difficult to predict how long the foul stench of debt currently blowing though economic halls will last, but it is a timely reminder that AI does not solve everything. Equities in September are etched in market lore as being a troublesome month and so far, such superstitions are proving founded.
The beginning of the month always presents a timely opportunity to reflect on the previous 31-day period, summarise the main events and developments, and attempt to draw conclusions as to whether they in any way foreshadow what might lie ahead in the immediate future.
All markets have been given another layer of intrigue as Donald Trump, for the moment, seems to have suffered a defeat as the federal appeals court ruled on Friday that the US President had overstepped his authority when applying tariffs under the guise of their being a ‘national emergency’. The judges in the court ruled the levies were “unbounded in scope, amount and duration” and that such decisions were the remit of Congress.
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