Updated: Dec 10, 2019
Last week brought several developments that underscore the “3-D” view of critical factors that are impacting markets. Disruption, divergence and debt were all evident within recent headlines.
Disruption can take a few different forms, but much of what we are facing now can be classified as either geopolitical or monetary-policy disruption. Geopolitical disruption. Populism is still alive and well, as evidenced by the results of Austria’s election this past weekend. Despite all the problems facing the U.K. in its efforts to separate from the European Union (EU), Austrian voters took a more skeptical stance on the EU – the nationalist Austrian People’s Party garnered the most votes and will likely form a coalition government with another right-wing political party.