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Market outlook July

Following the G20 in Osaka, it became clear that the US and China will return to the negotiating table after a meeting between Trump and Xi Jinping. A joint declaration from the G20 members acknowledged that protectionism and tariffs have been intensified, but did not discuss protectionism and tariffs in specific terms. The members also agree that they will strive to maintain fair free trade. Sceptics, on the other hand, point out that it may take a while for a trade agreement to actually materialise. Some also believe that the parties are too far apart, so that the negotiations will collapse once again. Nevertheless, the general tone of the meeting still seems positive.

» Read our market outlook for July


» Les forbehold (disclaimer)