Brexit: The gift that keeps on givingThere is no end to the prevarication of the U.K. or the intransigence of the EU.Brexit is proving to be an immovable force meets an unstoppable object. This is, of course, a paradox since if there were such a thing as an unstoppable force, there could be … [Read more...] about Euro surge continues
Talks resume but progress limited.It is a pity Shakespeare was born 450 years too early. He could have written a great play about Brexit. It has everything he would need to bring it to life. Goodness knows it needs something!It is true of every relationship. Mutual exasperation. She wants … [Read more...] about Brexit; Just a Simple Divorce
Stagflation. There, now I have said it!There are stories told to baby economists of a time when there were power cuts in the U.K and industry was limited to three consecutive days work a week to conserve electricity during a miner’s strike.High inflation brought about a cap on public sector … [Read more...] about Winter is Coming!
Just sell it!Over the past few weeks I have seen no end of technically driven traders trying to give reasons based on their charts to buy Sterling as it is extremely “oversold”. The markets response has been “who cares”?There is a constant argument over which is better, technical or … [Read more...] about Technical or Fundamental?
Prevarication can’t mask ineptitude much longer.Yes, I know, it’s Brexit again but it’s either that or Trump since the market is still, at least in its collective mind, on a Mediterranean beach.When I was at school, if I was asked by a teacher what is nine times five I doubt my answer would … [Read more...] about Answer the Question!
Be careful what you wish for.When Theresa May entered Parliament, winning her seat in 1997 at the third attempt, she will no doubt have aspired, but nothing more, to rise to the highest office. Now as she looks down from the summit she can be forgiven for thinking “why did I bother?”Prime … [Read more...] about May left holding the baby!
But What?Tick Tock Tick Tock. We can all hear it but no one is doing anything about it. You know that car alarm that goes off at 3.00am and we all just lie in our beds convinced it’s not ours, the same is happening with Brexit. The ticking clock is being ignored. Almost by default a Hard Brexit … [Read more...] about Anything but Brexit
Quit griping and start preparing “I’m sorry Johnny can’t come to school today. I think it’s due to Brexit” Is there any issue, problem or dilemma currently facing the U.K. that can’t be put down to Brexit? It has become very convenient to blame the U.K.’s imminent … [Read more...] about Brexit: The Convenient Truth!
Forty Billion? Forget it!Michel Barnier, the EU’s Chief Negotiator must have had a good chuckle over his croissant and cafe noir yesterday morning as he read that the U.K. is going to offer a settlement of forty billion Euros as compensation for leaving the EU.No matter how stridently the … [Read more...] about Brexit? Not at that Price!
MPC doves flutter.And then there were two! Ian McCafferty and Michael Saunders ploughed a lonely furrow at yesterday's Bank of England Monetary Policy Committee meeting. Andrew Haldane, the Bank’s Chief Economist thought better of his threat to vote for a hike and “new girl” Silvana Tenreyro … [Read more...] about Back to square one.