Markets are treading softly today after the announcement that North Korea have successfully test fired a long range ICBM (inter-continental ballistic missile). The missile flew for 40 minutes and splashed down in international waters just 200 miles from Japan with no reported damage to any vessels in the area. With the latest test being the 11th launch from North Korea this year, President Trump called on Asian leaders to “end this nonsense once and for all”. With the US closed for Independence Day markets in Europe appear to be taking the news in their stride with no large negative moves.