Financial markets continue to live up to their reputation for getting ahead of themselves. This week’s catalyst was the trade armistice between the US and China, which helped push global equity indices further into record territory. But investors should not dismiss the prospect of renewed skirmishes between the two powers. Nor can they rule out more aggressive posturing from Washington towards other trading partners that run large trade surpluses.
金融市場依然配得上其「容易衝動」的名聲。上週在美中貿易休戰的助推下，全球股指進一步升至創紀錄高點。但投資者別忘了，這兩個大國之間依然可能再生摩擦，對於其他與美國有鉅額貿易順差的國家，華盛頓也不無可能擺出更強硬的姿態。
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