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Quitting and leaving

| Posted by: Paul Donovan | Tags: Paul Donovan

  • A rise in the number of low-skilled people choosing to quit their jobs is a signal of a strong labor market. The number of UK government ministers choosing to quit suggests a red hot UK labor market. Otherwise, the interminably tedious process of the UK leaving the EU continues. Without a new act of Parliament the UK leaves, deal or no deal.
  • North Korea tested an "ultra-modern tactical weapon." US President Trump may have to rethink the assertion that the evidence North Korea is continuing its nuclear program is fake news. Markets care about this if it has an impact on US-China relations.
  • Six US senators are proposing additional sanctions against Saudi Arabia. The Trump administration selectively targeted some Saudi individuals. Saudi Arabia has threatened to retaliate in the face of sanctions, although that threat may be less potent with the oil price where it is.
  • Final Euro CPI for October is unlikely to move markets much. The US Federal Reserve is to review its policymaking framework next year, just to make forecasting the Fed that little bit harder. US industrial production should show a strong economy. It will not show evidence of an industrial renaissance born of trade taxes.