That was the year that was

Posted by: Paul Donovan

20 Dec 2019
  • The US Congress was masterfully active and masterfully inactive. Action came with the House passing NAFTA2 (USMCA). Markets expected this. Inaction came with delays to submitting articles of impeachment against US President Trump. Markets assume the Senate vote will by party, so do not care. Christianity Today, a magazine, called for US President Trump to be removed from office.
  • The Financial Times reports that FCA head Bailey is to be the next Bank of England governor. Other candidates have been told they will not get the job (no one called me).
  • Revised UK and US GDP numbers are due. The UK investment figures may be worth a glance. Markets hope these will improve as the interminably tedious Brexit process moves to a new tediously interminable phase. US personal income and spending data are due.
  • This is the final morning audio comment of 2019. Normal service resumes on 6 January 2020. I would like to thank everyone for their support over the course of an interesting year, and to wish you as prosperous a new year as circumstances will allow. To everyone who has tuned in over the course of 2019 – thank you for listening.

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