Last night’s US local elections threw out some interesting signals as to where gridlock, polarisation and the apparent decay of American Democracy are headed next. Its maybe not all as bad as we fear, but the outlook remains risky!
Markets are priced for perfection in a very imperfect world. As stocks hit new highs, are the bulls or bears correct? Politics are likely to be the major influence on where we go next, but lurking around the next corner might just be inflation.