"I’m always sceptical when investors say the world is now “more uncertain.” Was it really more certain before it became uncertain? What people mean is that they are now assigning meaningful probabilities to a wider array of plausible scenarios. The future is not more uncertain — we are just being more realistic about it."
“Donald Trump has moved the US from a global power to a regional power.”
“Trump really, really likes dealmaking. He’s fundamentally transactional, a trait that is much more obviously useful for a property developer than for an international statesman, and he wants to put his name to very big deals.”
“Everything is at stake, everything. Inflation is on the rise, consumption is showing signs of weakness, consumer sentiment is slipping, all stemming from the administration’s tariff policy.”