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Brady has a bunch of votes

| Posted by: Paul Donovan | Tags: Paul Donovan

  • US Representative Brady was bragging about having enough votes to get tax cuts through the House of Representatives. The vote may come as soon as Thursday, when US President Trump is also due to speak on taxes. The issue is the Senate, where a different bill and very different politics play out.
  • The US NFIB opinion poll on small business sentiment is due – this may be affected by the NFIB's somewhat hostile lobbying position on the tax cuts. US producer price inflation (a reasonable reflection of corporate pricing power) is also scheduled.
  • The Euro area produces Euro area GDP for the third quarter. This is as good as it gets for the Euro area, in all probability, with momentum fading back towards trend-like growth in 2018. The distribution of growth may be of some note.
  • The EU-UK UK-EU divorce proceedings continue to generate headlines of monumental tedium. Markets are unlikely to be too concerned about these until politicians stop posturing, or until the December EU leaders' summit (whichever comes first. Probably the latter). UK producer and consumer price data is due, but the recent rate rise robs the numbers of much policy significance.