The Economic Sentiment published by the Zentrum für Europäische Wirtschaftsforschung measures institutional investor sentiment, reflecting how many are optimistic and how many are pessimistic regarding the current state of financial markets. And, with the China-US trade war at full steam, there could clearly be a contagion of one upon the other. So far, Trump’s endeavours are leading to nought, and given that he must show some kind of results fears are arising that the US president will be looking for an easy scapegoat – one upon whom his sentiments actually DO leave an impression. EU tariffs could become Trump’s Second Front. And with the European economy already depressed by the poor performance of its German locomotive, this could be critical.
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