Phillip ETF Model Portfolio: May 2018 Update June 19, 2018 803
Italian’s trouble in forming the government rocked the European financial markets as reflected in the equity markets and credit spread. Even with the government finally established, an “Italexit” is still a possibility under the coalition government led by the populist Five Star Movement Party and anti-immigrant party, the League.
The G7 summit was cut short for Trump as he visited Singapore for the historical Trump-Kim summit. He walked away with a deal to denuclearise the communist state.
Trump slapped 25% tariffs on $50 billion of Chinese goods, essentially sparking fear of trade war as China retaliated with tariffs on $34 billion of U.S. products. We expect volatility to be elevated going forward.
About the author
Pei Sai Teng Investment Analyst Phillip Securities Research Pte Ltd
Sai Teng covers the global macro research. He has more than 6 years investment experience primarily in portfolio construction and asset allocation.
He graduated with Bachelor of Science in Banking and Finance from University of London.