Trade war will be on the cards for a while… But it is not the solution

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and all data is available excel





Zimbabwe, Greece the best markets in April. Turkey and Kazakhstan – the worst.

Tunisia, Romania, Saudi Arabia – the best markets YTD. Turkey and Philippines are the worst.

US, Ireland, Canada are the best bond markets YTD while Russia and Argentina are the worst.

Steel, cocking coal, and Platinum – the worst commodities in April. Crude oil and wheat – the best.

DXY was getting weaker ever since Trump took the office, but started advancing last month. Weaker DXY did not help US trade balance which continues to deteriorate and was in much better shape under Obama, perhaps highlighting that currency rates are not the reason for weaker US trade and trade wars will not really help to improve it. But trade war is still very much on.