Trade wars and the fiscal fallout

David W. Rolley, CFA at Loomis, Sayles & Company, speculates that the US’ trade measures could impact the country's assets and currency for a long period of time. He looks at the reasons behind tariffs and the US’ need to address its deficit, noting that they could cause slower growth, lower yields and a weaker. This uncertainty has made companies and consumers cautious with their spending, meaning a recession, though unlikely, cannot be ruled out. The current volatility, caused by government policies, may affect specific industries more, namely banking, defence, pharmaceutical and tourism....