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Deals are falling off the table

Even though trade talks are still going ahead between the US and China this week, as Phil Dobbie discusses with NAB’s Ray Attrill, what little hope of any sort of outcome seems to be rapidly diminishing. For a start, the US has added 28 more tech companies to list that US suppliers can’t trade with, and it looks like US government retirement funds will be prevented from investing in China. There’s an equally as pessimistic outlook on Brexit, with talks falling apart. As Ray suggests, there’s the danger of a delay followed by a Tory election win, which could secure a no-deal Brexit further down the track. In short, don’t expect the pound to bounce back too much anytime soon.

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