Weekly Digest - INVESTEC
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Rumours are swirling as to what that will happen if there is no passage of the Brexit bill, with an expectation that we will be granted an extension to negotiate the terms, however, this is unlikely to be “free”. The Telegraph has reported that we will be asked to increase the £39bn exit payment, but their source is unclear. Mrs May’s own position as PM would also likely to come back up for debate, even if she is immune (under party rules) from a leadership challenge for another ten months (a year after the last challenge).
Today, equity markets are firmer, buoyed by positive comments on the progress of China-US trade talks from Whitehouse advisors and encouraged by comments on US monetary policy by Jay Powell.
This week sees a quietening of the earnings season and relatively light economic data schedule. Today, we have US January retail sales as the main focus, with industrial production from Germany and industrial sentiment in France. The Brexit vote on Tuesday and inflation data in the US and Europe (released over several days) are the main planned features of the rest of the week.