- Oil rose 3.4% on the week with Brent at USD 56
- Gold fell 1.8 % to 1315
- Haven assets decline, global equities rise
- North Korea launches second missile over Japan
Thus far President Trump’s leadership has been long on noise but short on results. He has failed to come up with any legislative wins in his first eight months, despite the Republicans’ control of both chambers of Congress and the executive. This is mostly due to intransigence – the White House has simply not been playing its traditional coordinating role to help bills through Congress.
There are also now rumours of another potential deal with the Democrats on DACA, a program to legalise people who arrived in the country illegally as children and have grown up in the US. Yet to be confirmed, this deal would be in exchange for additional border security funding but surprisingly doesn’t mention the wall with Mexico, a key issue for Trump’s base.
Jeromine Bertrand (CFA) of Momentum Global Investment Management, one of our UK regulated, discretionary fund managers, shares his view. Click here to view.