Global Markets Putting Their Faith in TACO Trade -- Market Talk

Dow Jones01-20 14:07

0607 GMT - There's an argument that global markets should have responded more adversely to growing geopolitical tensions over Greenland's sovereignty, but traders have been particularly sanguine to risks in general, says Jonathan Kearns, chief economist at Challenger. Markets seem to be putting their faith in TACO--or betting that Trump always chickens out--and that other world leaders will do what they can to avoid the realization of risks, he adds. The risk of higher trade barriers including being applied to service firms such as big U.S. tech means there could be a significant market impact just around the corner, Kearns says. (james.glynn@wsj.com; @JamesGlynnWSJ)

(END) Dow Jones Newswires

January 20, 2026 01:07 ET (06:07 GMT)

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The risk of higher trade barriers including being applied to service firms such as big U.S. tech means there could be a significant market impact just around the corner, Kearns says. 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Markets seem to be putting their faith in TACO--or betting that Trump always chickens out--and that other world leaders will do what they can to avoid the realization of risks, he adds. The risk of higher trade barriers including being applied to service firms such as big U.S. tech means there could be a significant market impact just around the corner, Kearns says. 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