Proposed US-China trade and Brexit deals have spurred investor excitement – and once again, it’s premature

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Hope springs eternal, especially in financial markets where the “fear of missing out” – known in the investment community by the acronym “Fomo” – on a rally can be a powerful driver of sentiment. Over the past several days, Fomo has been very much in evidence.Since October 10, the British pound has surged more than 5 per cent against the US dollar, to its highest level since mid-May, and has not been this volatile since the days following Britain’s vote in June 2016 to leave the European Union,…

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Breaking news, analysis and opinion from the SCMP’s Hong Kong edition.

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