Follow Paul Donovan

What, no tweet?

| Posted by: Paul Donovan | Tags: Paul Donovan

  • Saudi Arabia's crown prince has been replaced by the deputy crown prince (remarkably, the announcement was not made by tweet). Bonus payments to civil servants and the military have been reinstated in spite of the fiscal challenges presented by a further decline in the oil price. 
  • The MSCI equity indices have included Chinese mainland equities for the first time, in a move that is not a real surprise to anyone. The capital inflows associated with the move are unlikely to be that significant in comparison to the existing capital flows.
  • The Queen's Speech is due in the UK, setting out the government's legislative proposals (which basically amount to "leaving Europe"). Balancing the government's internal tensions will be of interest, but the real focus for investors will be the size of the government majority when the speech is voted on next week.
  • Haldane of the Bank of England is due to speak in the wake of a dovish tone from Governor Carney. US housing data is due – the impact of skilled labor shortages may constrain supply.