With US equity markets within one percent of all-time record highs, and US equity risk back near cycle lows, one could be forgiven for 'believing' that all is well in the world.

A China trade deal is imminent, right? A Brexit deal is imminent, right? Turkey ceasefire, right?

Well, according to The Baker, Bloom and Davis daily news-based Economic Policy Uncertainty Index (based on newspaper archives from Access World New's NewsBank service), US economic policy uncertainty has never, ever been higher than it is currently...