Weekly Market Outlook June 3, 2018

“Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.” – Alan Greenspan

Pfäffikon SZ, Switzerland – Even old trusted trading partners are put in the corner like a small child by American President Trump. From now on, steel and aluminum from the EU, Canada, and Mexico are subject to an import tax. Countermeasures may be expected. As an investor, it is difficult to estimate what the consequences will be. Periods of protectionism can last for a while, but never forever. The US only seems to be adjusting various trade agreements in its favor. After all, America First is the motto.

In the coming week, the focus will be on trade relations in general. Additionally, as a financial connoisseur, it is interesting to follow the lingering issue around Deutsche Bank.

This material is communicated on June 3, 2018 by 1324 | by Thirteen Asset Management AG, Rietbrunnen 20, 8808 Pfäffikon SZ, Switzerland. This material is for information purposes only and is not intended to be a solicitation or invitation to invest. Any organizations or products described in this material are mentioned for reference purposes only. This material is intended only for investment professionals and professional clients and must not be relied upon by any other person. It is proprietary information of Thirteen Asset Management AG and may not be reproduced or otherwise disseminated in whole or in part without prior consent from Thirteen Asset Management AG. Alternative investments can involve significant risks and the value of an investment may go down as well as up. There is no guarantee of trading performance and past or projected performance is not a reliable indicator of future performance. We recommend to consult your bank, investment and/of tax adviser.