Ferris Jackson, Assistant Vice President of Multi Asset Portfolio Management at Barita Investments Limited, said the global equities markets zipped, while bond yields and crude prices dipped because investors were celebrating the rebuke of the Trump administration by the American people.
Speaking in an exclusive interview on Radio Jamaica's Real Business on Wednesday, Mr. Jackson said investors celebrated the rebuke of the Trump administration because the Democrats will push for a diplomatic solution to the war with Iran and the removal of the Trump tariffs, which have been driving inflation and fears of higher interest rates.
Mr. Jackson added that a diplomatic solution to the war with Iran and reduction or removal of the tariffs could result in global central banks maintaining the current levels of interest rates or reducing them in the future if inflation abates.
Mr. Jackson's comments were supported by Vincent Morrison, President of the Union of Clerical Administrative and Supervisory Employees (UCASE), who argued that the rebuke of the Trump administration is good for the workers of that country and the world.
Mr. Morrison said the policies of the administration, particularly in relation to war against Iran and the tariffs, have led to an acceleration in global inflation and reduction in the standard of living of the world's workers.
He said a diplomatic solution to the war and reduction or removal of the tariffs would lead to lower gas and diesel prices as well as cost of living.
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