Markets in H1: Down with the U.S. dollar, up with guns

News Snapshot:

After U.S. President Donald Trump’s radical campaign pledges, investors knew markets would get bumpy this year as he returned to lead the world’s biggest economy. But almost nobody predicted the outcome so far, especially the dollar’s dramatic fall. Run through the year’s numbers without tracking the journey and many key markets look serene. World stocks are at record highs, benchmark global borrowing costs are down and so-called market “fear gauges” like the VIX barely look like they have moved. But look closer and the turmoil is clear: all of those markets have seen extreme swings over the last six months...