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Do not go gentle into that good night

| Posted by: Paul Donovan | Tags: Paul Donovan

  • The UK government indicated that Parliament may have a say on its negotiation stance ahead of the exit discussions with the EU. The chance in the nuance of the government's position has halted the seemingly inexorable decline of sterling. Markets are once again the idle playthings of politicians' whims.
  • In the fading light of the US presidential race, a certain amount of rage is being expressed in the Republican camp. This is changing market perceptions of the risks of a Democrat Congress as well as a Democrat White House – which is of course a meaningful shift from the status quo.
  • The US Federal Reserve published the minutes of its last policy meeting, where there were six dissenters. Three voters argued for an immediate rate hike, and three others signaled that they did not want any hike at all this year. 
  • Europe offers some minor inflation figures, which is not really much of a distraction. French final CPI will be ignored, but the German wholesale prices may offer a peek at the consequences of wage pressures in the German economy.