If the performance of the US government in the past 72 hours is indicative of future results, then the world will remain a chaotic place under Donald Trump. Before the Trumpian knot is untied (and Gordius would tip his hat to the seemingly disorderly nature of US policy making) it is useful to summarize the circumstances under which the US administration conducts its political and economic agenda.
Last week oil prices saw eventual limited outcomes with the two main crude futures prices falling between 2 and 3% with products registering even more meagre declines. It really did not matter what might occur with weather, wars and what OPEC might do, it was all about President Trump ‘tarrifying’ the market, used here as not only a state of trade, but also emotion.
Recent trends prevailed, expectations were fulfilled and as a result, investors remained upbeat on the US and concerned about Europe. Even though US initial jobless claims retreated more than anticipated the country’s growth remains, if not robust, then stable and solid.
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