Fast forward to Wednesday and….
“Deterrence counts on the rationality of the opponents. The build-up of mutual threats and the shows of force in the past weeks have unsettled markets, with risk assets and high-beta currencies underperforming, and it is likely to continue.”
“But worse, this crisis comes at a moment when America has another dangerous rogue actor to contend with: the president of the United States. Trump is every bit as erratic as Kim is and is less schooled on these issues than his counterpart.”
Well, on Wednesday the world is once again discovering that it might have been a mistake to “forgot to correct for the data point thatÂ Donald Trump is the fucking President of the United States.”
Ok, so now that Donald Trump has promised to unleash “fire and fury the likes of which the world has never seen” on North Korea, and now thatÂ Pyongyang has responded by threatening to bomb Guam, you might be asking yourself the following question: “what would this mean for stocks?”Â