In his first term, US President Donald Trump liked to defer to the level of the sharemarket as a measure of his success.
With good reason. Financial markets may be fickle, but they’re also apolitical, amoral and forward-looking, and so they do provide the best real-time gauge of where the world is heading.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
