Tag Archives: protectionism

Actions by the Trump administration may well represent a ‘regime shift’ in terms of US tariff rates.Perhaps the main regime shift that has occurred during the Trump presidency is in US trade policy. More than tax policy, this is an area where Trump could mark the clearest break – although economic historians often point out that the US economy’s rise to global dominance in the 19th century owed a lot to protectionism.Still, the trend since World War 2, and even more since the end of the Cold...

There is no change to the risk budget this month. For the moderate risk investor the allocation to bonds is 50%, risk assets 45% and cash 5%. We have had continued volatility since the last update but the market action so far is pretty mundane. The initial selloff halted at the 200 day moving average and the rebound carried to just over the 50 day moving average. That is about “as expected” as you can get for a stock...