Labour has shifted its view on a ‘people’s vote’ but formidable obstacles remain

Low wage inflation fuelled the bull market but this is now changing

Central banks have not honed their weapons for the next downturn

Protectionist measures are negligible so far but markets are now focusing on escalation

Emerging markets currency crash has left Fed chairman Powell unmoved

Important monetary policy meetings are due next week in the US, eurozone and Japan

China and the US are growing above trend but Italy poses a major risk

State of the UK economy is precarious and the BoE has recognised the risks

European slowdown spreading to US, but China remains steady

Rising yields and crude prices have hit confidence, but will not cause a bear market yet

Unsustainable borrowing may cause a clash with the Fed, but not a solvency crisis

Higher than expected US inflation is bigger threat than global trade war fears

China’s response to US tariffs has been measured but the end game is uncertain