Please find attached a new-look Weekly Digest.
Last week was a positive one for risk assets, helped by improving sentiment over world trade. The Phase I agreement between the US and China was signed, as was the US-Mexico-Canada Agreement, while the week ended with the EU trade commissioner made encouraging noises about the bloc’s relationship with the US. Major government bond markets experienced a quiet week, as did commodities although oil was up 1.3% in Asia overnight following supply interruptions in Libya and Iraq.
This week is topped and tailed by holidays. US markets are closed today for Martin Luther King day, while Friday sees the start of the Chinese New Year (it’s the Rat, in case you’re wondering) holiday, which runs until Thursday of next week. The corporate reporting season gains momentum, though primarily outside the UK. Among the companies in which we have a particular interest those reporting include UBS (tomorrow), Northern Trust, Investor, Johnson & Johnson, ASML, Sage (all Wednesday), Procter & Gamble, Intuitive Surgical (both Thursday) Air Products and 3M (Friday).