RaboBank: “Some In The Market Are Starting To Get The Real Reason Behind The Trade War”

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By Michael Every of Rabobank

London, 1940. Churchill’s War Room, deep beneath Whitehall. A group of officers and a hunched old man with a cigar are huddled around a map on table.

MONTGOMERY: “The outlook is grim, Prime Minister. We are short of ammunition.”

DOWDING: “And planes, Prime Minister.”

MOUNTBATTEN: “And ships, Prime Minister. And ships.”

CHURCHILL: “So, gentlemen, what is to be done?”

Grim silence falls on the darkened smoke-filled room. A bespectacled Treasury clerk enters.

CLERK: “We

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