Fiona Sincotta

Obviously, if he does go ahead with those threats, such as trade tariffs,

These are big moves that he's threatening that would have a large impact on corporations' earnings, on global growth, on the inflation in several countries.

So that's why the market is nervous when he makes those threats.

But then we do see and we have been seeing this tendency for Trump to then rein in or row back on those threats.

And then we see this recovery and a rebound in market sentiment.

I mean, there is a sense, right?

If we think back to sort of Liberation Day, I mean, the move that we saw in the markets, obviously, that was a much larger scale than what we've

seen from Trump just with the tariff threats on eight countries.

But I think we are seeing a slightly lesser reaction as he sort of continually applies the same process.

So I think there is a sense that the market is becoming a little bit savvy to his processes here.

But I think there is always going to be that sense of, but what if?

What if he does go ahead with it?

Thank you.

Yeah, I mean, we had a really solid rally last week, you know, on those expectations that the Federal Reserve will be cutting interest rates in December.

But as we start off this new week, there's been a turnaround in that sentiment.

And I think the catalyst for that, for me, came from Japan.

hawkish tone, really ramping up sort of expectations for a December rate hike.

Now, what does this mean and why is it important?

Basically, there are concerns now that we might see the unwinding of the carry trade.

So, that's when we sort of have institutions, investors borrowing in the low interest yen in order to invest in higher yielding riskier assets.