EUR 20.34 For Business Accounts Only

The Weekly Track earth-week

- The Weekly Track – Earth Week by Bob Savage
http://trackresearch.com/articles/the-weekly-track-earth-week/

The paradox of green conservatism has a long history and may be worth thinking through in the week ahead, with the US increasingly isolated on the world stage with its belligerent trade and nationalist policies – particularly around energy and technology dragging. US earnings beats weren’t rewarded in equities while debt fears rose with emerging markets losing some of their luster. While commodities have rallied sharply this month, technology lags with the focus on Semiconductors the latest breakdown from last week (SOX off 1.17% on the week). The Trump Tweet about OPEC and oil set up markets for a Friday reversal but many see rates as more important in driving the latest bout of fear. The visit of French President Macron to Washington with his agenda on trade, the Iran nuclear deal renewal and potentially the carbon limiting Paris Accord, all on the agenda, may return market focus to geopolitics, particularly after the IMF meetings end and their discussions filter i
nto trading rooms globally debt, trade policy and weak productivity, which are seen as key issues for sustainable global recovery. If the path to success isn’t inflation but growth, then voters will tell us – and perhaps this explains the rise of populism. Even mavericks like Macron have seen their popularity wane recently – as Macron pushes against the unions for labor reform – and suffers strikes along with angry press – the list of strike in France in April is worth noting as to what it means for GDP, confidence and mood.