Macro News
Global: We previously saw that the rise in uncertainty we observed around the world in the past two years has been increasing demand for safe havens such as the US dollar and US Treasury bonds. Figure 1 (left frame) shows that periods of US dollar strength are usually associated with rising uncertainty while the greenback tends to depreciate when uncertainty eases. We can notice that the 8-percent pullback in 2017 was associated with a significant drop in the economic political uncertainty ((EPU)) index. Hence, the recent (positive) results in the UK following the