Head of FX Strategy, Saxo Bank Group
Summary: The Mueller report has landed, and its mixture of findings has only emboldened the fierce partisan divide in US politics. While markets remain broadly unfazed, the political battles to come could have meaningful effects on US policy into the 2020 election.
While the Mueller Report on Russian interference in the 2016 US election failed to establish that President Trump’s campaign “coordinated or conspired” with Moscow to sway the 2016 ballot, the multitude of lesser obstructions, infractions, and general murky dealings uncovered in the report mean that Trump’s domestic enemies are emboldened – even as his own base attempts a victory lap. For the moment, markets appear unmoved by the debate, but where the Democrats and the Trump administration take their battle from here could have a lot to say about US policy and even US stability into the 2020 election.
Here's what some key commentators are saying about the release.
The market is trying to get back to the pre-Covid and pre-war times, but that model is broken. A new dawn is here and the financial world needs to adapt.
Steen Jakobsen,
Chief Investment Officer
A political switch in China towards less tough control of its people and companies may kick things back into gear.
Redmond Wong,
Market Strategist
While the economic situation in Europe may not be as bad as feared, there's still a plethora of things to fix.
Chris Dembik,
Head of Macroeconomic Research
As the world turns increasingly bipolar, equity markets face harsh times as they transition into the new reality.
Peter Garnry,
Head of Equity Strategy
New alliances and collaborations outside of China may lead to prosperous times in Asia.
Charu Chanana,
Market Strategist
For years, it was thought that the balanced portfolio was a thing of the past. But recent developments may have changed that.
Peter Siks,
Investment Coach
Following a dramatic and volatile 2022 with good returns, a lot of this year's commodity performance may be driven by Chinese politics.
Ole S. Hansen,
Head of Commodity Strategy
2023 could be a tough year for currencies but EUR and JPY may have some upside.
John J. Hardy,
Head of FX Strategy
The commodity-heavy Australian market may have a good start to 2023, as the Chinese focus on growth signals demand for Aussie resources.
Jessica Amir,
Market Strategist
From a near-perfect environment for speculative assets before 2022 to the opposite, crypto faces fundamental challenges.
Mads Eberhardt,
Cryptocurrency Analyst
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