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Taking control

| Posted by: Paul Donovan | Tags: Paul Donovan

  • The army appears to have seized power in Zimbabwe. At least, they have seized control of the television station. It is an interesting point in the modern world as to whether controlling a television station is a signal of controlling power; controlling Twitter may be more significant, perhaps?
  • The Trump Twitter Feed has been active overnight, retweeting Ivanka Trump's insights on tax reform. The House is expected to vote on their proposals tomorrow, but it is the detail of the Senate proposals (possibly released today) that will matter most to markets.
  • The UK offers unemployment and average hourly earnings data. It is important to stress that average hourly earnings are not wages, nor are they income. That is why average hourly earnings are not called wages, nor are they called income. In fact, with the self-employment explosion, incomes are likely to be notably different from average earnings.
  • US consumer price inflation is due. It is worth remembering that about half of the CPI measure in the US is not driven by market forces and supply and demand. Instead, about half of the inflation measure is calculated by officials. Retail sales are also due – there may be lingering effects from recent natural disasters.