The “sell America trade” caused whiplash on Wall Street and took Australian investors on their wildest ride since the COVID pandemic. After largely ignoring share market carnage, it was a bond market rout that forced Donald Trump to backflip on his reciprocal tariffs with all countries bar China, sparking a recovery on stock markets. By the end, the Australian share market was back where it started the week. Gemma Dale from NAB trade talks to Close of Business about the rebuke bond traders sent to the White House and Alicia Barry speaks to John Quiggin, economics professor at The University of Queensland, about why he thinks Australia must have a painful break up with America, as US exceptionalism comes to an end. Gold also lives up to safe haven status with investors flock to the glittering metal.
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