Equities edge higher but remain nervy
European & US equities continued to edge higher this week in the face of the good news that China will review some of its trade practices, and the extremely welcome news that President Trump has not (so far), rushed into any response to the recent claims of a chemical warfare attack by President Assad on his own people in Syria. Last time the US President was faced with this scenario a very public response was immediately forthcoming, but there seems an increasing gulf between politicians & public on this subject, with most public opinion firmly opposed to committing more assets & lives to the region, much less so since it puts the USA at odds with Russia, a scenario that benefits no-one. The picture remains extremely mixed, and economic data is unlikely to have much impact while greater geo-political concerns cast their shadow over the markets. Good news is good news though, and while the market has shaken off some of its recent losses, equities are not out of the woods yet. We see nothing yet that would cause us to abandon our recent approach of buying dips & selling rallies which has stood us in such good stead during this period of uncertainty.