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Nominating in an open outcry system

| Posted by: Paul Donovan | Tags: Paul Donovan

  • US President Trump apparently asked a gathering of US Republican Senators to give their opinion on the next US Fed Chair by a show of hands. A majority of Senators present declined to participate, presumably feeling that decision making in this way should end around the time one leaves kindergarten.
  • The issue, once again, is the state of relations between the White House and Capitol Hill. The events follow on from further disputes with Republican Senators. The number of Republicans retiring from Congress (reducing the power of party relative to the power of conscience) could become an increasingly important market focus.
  • More #fakeeconomics with another opinion poll survey on business sentiment – this time the German ifo. To be fair, German #fakeeconomics is less fake than elsewhere in the world. Maybe Germans are better at filling in surveys. The relationship to reality is still tenuous.
  • US durable and capital goods orders data are scheduled. The problem nowadays is deciding what constitutes an investment order. An oil rig is clearly an oil rig, and investment. Spending on technology is more difficult to distinguish between investment and consumer spending.