Economist wants to turn the oil fund against the US: "Would hurt"
The oil fund owns US stocks and government bonds worth around 10,000 billion Norwegian kroner. The country should consider using the assets as leverage in negotiations with Donald Trump, says Sparebank's chief economist Kyrre Knudsen to the Norwegian newspaper DN.
- If we start selling them, that's what would hurt Trump the most. Then he will have problems financing the gigantic US deficit.
"Taco" theory strengthens after Trump's latest U-turn
The fact that Donald Trump backed down from his latest tariff threat against European countries after Tuesday's stock market crash in the US strengthens the picture of the pattern that investors call Taco (Trump always chickens out). This is according to experts that the FT spoke to.
“The taco mentality is now deeply ingrained in the markets,” Ninety One portfolio manager Jason Bobora-Sheen told the newspaper.
The fact that investors are increasingly ignoring the president’s most drastic moves increases the risk that markets will one day underestimate a real threat and react too late, he emphasizes.
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