angle-left null Global Macro Views
Macro & Market

Global Macro Views

White Paper Macro & Market Active Fixed Income
April 2018
Global Macro Views

Authors and Contributors

BNY Mellon Asset Management North America- Global Macro Forum

BNY Mellon Asset Management North America- Global Macro Forum

Running an economy with a market system or governing a country with checks and balances is hard to top as a principle of design. Prompted by action (and threat of more) on trade sanctions by President Trump, apparent worries about the global trading system are off the high end of the chart. News of high-level administration personnel separations (both voluntary and forced) clutter national headlines. And the supreme leader of an impoverished but nuclear-armed state traveled back and forth from Pyongyang to Beijing in an armored train to talk, perhaps, about summit meetings on arms control that subsequently were on, off, and on. Enumeration may help. Google web searches for "nuclear warfare," "tariffs," and "US government," with each normalized to 100 for its own maximum interest, are shown in the chart. The high-interest readings all cluster of late, hitting peaks in worrying succession.

On January 31, 2018, The Boston Company and Standish merged into Mellon Capital to form a combined entity, BNY Mellon Asset Management North America Corporation. Effective January 2, 2019, this entity was renamed Mellon Investments Corporation.