By Michael O’Neill
‘Twas just a week before Christmas, when all over the world
The scroll of a trade deal began to unfurl.
Tariff hikes were delayed or reduced ‘cross the board
When the US and China finally reached an accord.
President Trump got a victory, China was beat.
China must buy more US poultry, and meat.
Central bankers are smiling, downside risks are reduced
Even as Trump’s next tariff targets, get introduced
He whistled and shouted and called them by name,
Allies and enemies, you are all still fair game.
Tariff hikes for, Ireland, Germany, and France,
Russia and Turkey, you don’t have a chance.
Stock markets have rallied, reaching ever new highs,
Visions of capital gains shine bright in their eyes.
Trump in his kerchief, Pelosi in her crypt
Were arguing terms for an impeachment script.
When across the Atlantic, in the UK for that matter
The people had spoken, oh what a clatter
BoJo was Prime Minister, with a record majority,
Now Brexit’s a sure-thing, he has the authority.
The ECB is changing, Super Mario is gone
Mr “Whatever-it-takes” performed his swan song
His shoes are to be filled by Christine Lagarde
A non-economist, inexperienced, Euro-elite, wild-card.
In the President’s office of the Federal Reserve
Jay Powell was smiling at the interest rate curve.
Recession fears had diminished, cross-currents had eased
But the rate of fed funds left Trump still displeased.
The end of the year is upon us, its all said and done,
The decade is ending, but not all the fun.
Next year looks promising with more of the same,
Flogging allies with tariffs, is Trumps favourite game.
Not toasting the season, wouldn’t be right
So, from AgilityForex, Merry Christmas to all and to all a good night.