‘Events, dear boy, events” is the famous aphorism that has almost outlived the memory of the British prime minister who uttered it, Harold Macmillan. It’s a sturdy truism, but Macmillan almost certainly never experienced the financial markets’ curious disconnection from events.
When it comes to financial markets, China is visibly getting worse, and it remains to be seen just how badly it will affect the rest of the world. Oil...
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