In a surprise move this afternoon, Theresa May announced to parliament that Tuesday’s planned vote on her Brexit deal would be postponed.
Brown Shipley’s Deputy Chief Investment Officer, Alex Brandreth, discusses the latest developments with Brexit, and how these events are impacting both the economy and markets.
Hailed as a major step forward by the UK prime minister, not everyone is convinced that the initial agreement yesterday on a draft ‘political declaration’ brings us any closer to a final Brexit deal.
Sterling was under pressure this morning as the probability of a ‘hard Brexit’ scenario rose following the resignations of several ministers in Theresa May’s cabinet in protest to her draft Brexit deal.
Consumers around the world are unanimous in feeling they are getting ‘the worst deal in history’ as they fill up their Gulfstreams at Biggin Hill, their Sunseekers in Antibes or even their VW Golfs at ASDA – and they are not alone.
So this time the pollsters were right; the House of Representatives turns blue, i.e. falls into the hands of the Democrats, while the Senate remains in Republican hands and their grip has tightened.
In spite of rumours in the press over recent weeks the Budget on Monday held almost nothing to excite savers and investors.
Brexit negotiates are heating up, further UK interest rate rises are a possibility and ongoing global trade tensions are the key factors taking us into the autumn. The old Chinese curse states; ‘May you live in interesting times’, and this couldn’t be more relevant than today.
The rise and fall of digital currencies has generated plenty of column inches already but given the continuing media buzz in this area we wanted to expand on our thinking…
At the start of the month the White House confirmed plans to increase tariff rates (from 10% to 25%) on $200 billion of Chinese imports and the news sent equity markets across the globe lower. China reciprocated and threatened to slap a 25% tariff on $16 billion of U.S. goods.
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