Rising tensions between the US and Europe, on show in Davos, have lit a fuse under customary fear trades such as gold and silver, which were already doing roaring business as inflation hedges. Developed markets, including the S&P 500, have also stumbled. Emerging markets, however, are on a roll. That suggests that some investors, at least, believe that the US will manage to navigate the dramas of its own making without crashing the global economy.
达沃斯论坛上展示出的美欧紧张关系，点燃了围绕黄金和白银等的传统“避险交易”，而这些资产此前已因对冲通胀而交易火热。发达市场——包括标普500指数——也接连受挫。然而，新兴市场走势强劲。这表明至少部分投资者认为，美国在处理自身制造的种种戏剧性冲突时不至于让manbetx app苹果 manbetx20客户端下载 崩盘。
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