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Timebomb

The trade war is just another symptom of the ongoing reshaping of the global world order

By David Scott | Monday 9 July 2018


 


Stock market selloffs, volatility blow-ups, collapsing crypto currencies. They’re all the symptoms of an unfolding global credit squeeze, according to famed HSBC Holdings Plc bond guru Steven Major. It just happens to be developing at a snail’s pace. Major and his team see what they call a “long list” of selloffs in risk market across the world as evidence of the disruption wrought by tighter dollar liquidity.

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