European pension funds should re-evaluate their equity holdings in the light of US president Donald Trump’s escalating war of words with China over trade tariffs, commentators have warned.Markets around the world tumbled earlier this week following president Trump’s announcement that he was considering adding tariffs on a further $200bn (€170bn) of Chinese goods following China’s retaliatory imposition of levies on $34bn of US goods.On Tuesday, the Dow Jones closed down by almost 300 points – wiping out any gains over the year. Asian markets rallied on positive US housing data, having seen the main markets in Singapore and Japan fall by 1% and 0.8% respectively a day earlier.“This is certainly something that pension fund investors should be aware of and concerned about,” said Alastair George, chief investment strategist at Edison Investment Research. George has advised caution “for some time”, he said, not just because of the burgeoning trade dispute but because markets were likely to trade sideways following moves by the US and Europe to wind down monetary stimulus programmes.“At this stage you’re talking about running a defensive portfolio position – not that you fear a calamity, but because you have relatively little upside,” he said. How US, Chinese and European equities have performed this year. (Total return, priced in dollars)Source: FE Analytics“If the markets trade sideways, then whether you are worried about a trade war or a peak in the economic cycle your response would be broadly similar in terms of your equity allocation: avoid globally traded commodities, the resources sector and emerging markets.”Last week, the US president announced a 25% tariff on $50bn of Chinese products ranging from cars to agricultural products, taking effect from 6 July. The US has also threatened imposing tariffs on products imported from Canada and the European Union.China, meanwhile, has threatened a 25% tariff on imports of US coal, oil and gas.“Europe is very exposed as it is very open [to trade],” said Tapan Datta, head of global asset allocation at Aon. “There are a lot of European industrials that would be impacted – but at the margin the move will boost some US stocks.“Over the course of these things, there will always be some winners and it is likely that some US stocks will win [over the short term].”Datta added a note of optimism, however: “It is still too early to get alarmist that the markets will tank.”In a note published on Wednesday, State Street Global Advisors lauded the “stellar first quarter results” of S&P 500 companies, which were now on track to “post a nearly 25% increase in earnings compared to last year”.The S&P 500 is approximately 4% up year to date.Pal Sarai, managing director and head of client consulting for EMEA, Australia and Asia at consultancy Bfinance, said the events unfolding in Washington and Beijing could prove to be a “major geopolitical risk that may derail the nascent global economic recovery”.Insuring against equity risk has come to the fore recently, he added: “There has been a trend in recent months towards strategies that may protect against equity market falls, and this could support the continuing appetite for such strategies.”Two UK public sector schemes – for the counties of South Yorkshire and Worcestershire – have employed significant equity protection strategies in recent weeks.Ultimately, the escalation of the trade dispute between the US and China should “have investors worried”, added Seema Shah, senior global investment strategist at Principal Global Investors.“Recall that the original tariffs on about $50bn-worth of Chinese imports motivated sharp declines in equity markets, despite not being expected to have a meaningful impact on the global economy,” she said. “The latest ratcheting up in the trade dispute may trigger even more severe market turmoil.”Trading blows: Who said what, and when, in the war of words US president Donald Trump and Canadian prime minister Justin Trudeau at the G7 gathering earlier this monthJanuary: US imposes tariffs on steel products from India and ChinaFebruary: Anti-dumping duties levied on iron and aluminium from ChinaMarch: US adds to tariffs on Chinese steel and aluminiumApril: China retaliates, imposing tariffs on US products such as cars and aircraft; Donald Trump threatens more tariffs on $100bn of goodsMay: “Ceasefire” announced by China and US8 June: Trump criticises France and Canada over trade ahead of G7 meeting in Quebec15 June: US imposes 25% tariff on $50bn of Chinese goods; China retaliates with levies on $34bn of US products19 June: Trump threatens 10% tariff on additional $200bn of US goods; China said to consider levying oil, gas and coal imports
With 4:04 left in the first quarter during Syracuse’s 81-70 overtime win over Stony Brook on Nov. 30, SBU’s Cheyenne Clark got past her defender and drove the open lane. Digna Strautmane, late on the rotation, scrambled to get in position and threw her hands up to stop the shot.Clark drove her shoulder into the 6-foot-2 Strautmane’s chest and missed. Before the ball could roll away, the referee made his call: blocking foul on Strautmane. SU head coach Quentin Hillsman pursed his lips and wiped away forehead sweat. He’s grown accustomed to managing foul trouble early in the season, and this game would be no different.Despite Syracuse’s (8-0) undefeated start, its two tallest players, Strautmane and freshman center Amaya Finklea-Guity, haven’t been a consistent factor. The lack of production stems from the frontcourt’s foul trouble. Strautmane has accumulated the most personal fouls on the team (27) and has recorded at least four fouls in half the team’s games. Finklea-Guity is tied for third in fouls (16) and has played more than 19 minutes just twice. Hillsman has attributed the fouls to poor on-ball defense by SU’s guards and poor positioning by the forwards.“They’re both freshmen,” Hillsman said. “This is their first college games. They have a lot of responsibility.”When on the court, the pair contribute. Strautmane leads the team in rebounds per game (8.3) and blocks (19). Finklea-Guity ranks fourth in rebounds (4.9) and second in blocks (6).AdvertisementThis is placeholder textThe duo will look to stay out of foul trouble against a Colgate team that sports four forwards taller than 6 feet on Wednesday night in the Carrier Dome.“We know better,” Finklea-Guity said. “We just have to be more aware of those silly little mistakes…There’s only two of us right now.”Kevin Camelo | Contributing Digital Design EditorSyracuse only has three bigs on its active roster: Miranda Drummond, Strautmane and Finklea-Guity. When on the court together, they anchor SU’s 2-3 zone. Drummond, 6-foot-1, and Strautmane flank out wide. Finklea-Guity is 6-foot-4 and protects the rim. On SU’s bench, there is no player taller than 5-foot-9. So, when a member of Syracuse’s frontcourt gets in foul trouble, opponents have exploited the height advantage.In Syracuse’s most recent contest against Stony Brook, Strautmane committed her second foul with more than seven minutes left in the first half. Before she could receive a third, Hillsman benched her for Finklea-Guity. Two minutes later, Finklea-Guity earned her second foul and in another two minutes joined Strautmane on the sidelines. To replace Finklea-Guity, Hillsman turned to 5-foot-8 Jasmine Nwajei. The Orange were outrebounded by the Seawolves, 7-1, and allowed four layups to close the half after Finklea-Guity exited the game.“We need to guard out the man that we’re on,” guard Tiana Mangakahia said, “and make sure that they don’t get into foul trouble by helping.”In overtime against Stony Brook, a help-defense foul occurred with 2:51 left in the period. A Seawolves’ guard had broken through the zone and charged down the baseline. Strautmane switched over but didn’t set her feet and was called for her fifth foul of the game. For the second time this season, Strautmane fouled out.Part of the issue, Hillsman said, is Strautmane and Finklea-Guity committing “guard fouls,” such as slapping a player when going for a steal or reaching over an offensive player’s back to tip a pass away. Instead, Hillsman wants his forwards to save the fouls for later in the game, when tighter, foul-prone defense is necessary.Finklea-Guity started her Syracuse career with 23 points in two games. Over the next six games she’s scored 27 total. Strautmane led SU in its season-opening win against Morgan State on Nov. 10 as she dropped 17 points, pulled down 11 boards, blocked four shots and assisted on three others. Since then, she hasn’t scored double-digit points. Both figure to be a part of SU’s future success, if they can stay on the court and out of foul trouble.“I want to play,” Strautmane said. “If I want to play, I’ll have to keep myself in a good position so I don’t get fouls.” Comments Published on December 6, 2017 at 12:42 am Contact Nick: email@example.com | @nick_a_alvarez Facebook Twitter Google+
No Big Ten team has come into Creighton’s home court and escaped with a victory since 1978, and that streak stood Tuesday night as the No. 9 Badgers fell 79-67.First halfCreighton came out the gates and hit Wisconsin in the mouth before the reeling Badgers could find their feet. Less than two minutes from tipoff, the Badgers found themselves in an 8-0 hole after Creighton nailed back-to-back 3-pointers.Wisconsin senior point guard Bronson Koenig finally answered with a 3-pointer to put the Badgers on the board and slow down the Creighton tempo that had ignited a deafening Bluejay crowd.UW managed to tie the game at 11 behind a quick rally from Badger senior forward Nigel Hayes. Hayes hit his first three attempts from the floor, including back-to-back threes of his own to put the Badgers right back into the thick of it.Men’s basketball: No. 9 Badgers open 2016-17 with a complete win over Central ArkansasThe No. 9 University of Wisconsin men’s basketball team began their 2016-17 campaign Friday night at the Kohl Center, taking Read…The Bluejays would go pound-for-pound with Wisconsin through the 10-minute mark in the first half, keeping things close at 20-20. Creighton had a chance to get the crowd on their feet on a breakaway opportunity for a slam dunk, but an indecisive Marcus Foster couldn’t finish at the rim with a wide open look.Badger freshman guard D’Mitrik Trice gave Wisconsin a spark immediately off the bench when he cashed a 3-pointer to give his team the three-point edge with around eight minutes before the half.Hayes would follow suit on the next possession with another basket from behind the arc, which would count as the Badgers’ eighth 3-pointer of the first half. For those who are familiar with Wisconsin basketball’s traditional style of play, living by the deep ball is almost taboo for the Badgers.With five minutes left before the first half, Wisconsin had taken 17 total attempts with 13 of those being threes. While UW had made a remarkably high eight of these 13 attempts, that kind of offensive imbalance simply isn’t sustainable, and the Badgers would learn this the hard way.Creighton rallied from its biggest deficit of the game — eight points — to pass the Badgers 33-30 at halftime thanks to a momentous dunk by junior guard Foster on a failed defensive assignment by Hayes beneath the rim.Since their red-hot start with 8-13 from downtown, the Badgers closed the first half with 12 consecutive misses from three. The shooting drought rendered Wisconsin scoreless through the final four minutes and 42 seconds of first half. Meanwhile, Creighton built a 13-2 run over the last seven minutes before the whistle.Second halfThe second half was much of the same for both teams as Wisconsin and Creighton traded blows until nine minutes remaining. The one exception: Hayes’ offensive boost for the Badgers was contained, with his first bucket coming almost halfway through the second half.Wisconsin sophomore forward Ethan Happ was M.I.A. for the Badgers down low, largely in part to being called for two travels on offense in the second half and three on the night.Men’s basketball: Three impressive high school seniors sign letters of intent for 2017-18The Wisconsin men’s basketball team notched one of their most balanced recruiting classes in program history with high school seniors Read…The turning point in the game happened with seven minutes remaining, when Creighton snagged three consecutive offensive rebounds before kicking it out to the corner for an uncontested three ball. Only seconds later, Creighton’s Thomas picked Koenig’s pocket before converting on an and-one basket on the other end.On the next possession, it was Thomas again who all but sealed the Badgers’ fate after burying a contested three ball to give the Bluejays an 11-point advantage with five minutes and some change on the clock.The Badgers gave it their best shot to respond, but the deficit proved too much as Wisconsin’s deep ball simply wasn’t falling in the final two minutes. The Badgers finished 11 for 39 total from three-point range, with their leading scorer (Koenig) going 3 for 13 from beyond the arc.Wisconsin looks to rebound at home Thursday night against Chicago State University at 7 p.m. in the Kohl Center.