Overview
The global capital markets are stabilizing today after taking a body blow of broadening the use of US tariffs (in migration dispute with Mexico), threatening the ratification of NAFTA 2.0, still-escalating hostile rhetoric between the US and China, and the threat of anti-trust action against the largest digital platforms. The decline in equities is moderating today. Most of the large Asian markets were modestly lower, but Singapore, Indonesia, and Thailand gained today and are net gainers over the past week. So is Taiwan, even though share prices eased today. Australian shares stabilized (~+0.2% vs.