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From Greenland to Goldland
Three weeks into it, how’s your 2026 going so far? Let’s just say that this may have been a holiday-shortened week in the U.S., but it felt like a year in Europe. Kicking off before the workweek even began, eight European economies were threatened with a 10% tariff over their (seemingly reasonable) stance on Greenland, with many warning of swift retaliation. Unsurprisingly, markets were not impressed, having assumed stable U.S./Europe trade relations for 2026, and promptly sent yields higher, and the dollar and equities lower. The renewed flare-up landed at the start of this year’s World Economic Forum, and the ... (full story)