The Day Today 7th November 2019

– CNBC (Kayla Tausche) reports Trump will deliver a speech next Tuesday on “trade and economic policy” and the Trump/Xi meeting will be around the NATO summit in London scheduled Dec 3-4
– Australia trade balance near record highs A$7.18bn vs expected A$5.05bn and previous months also revised higher
– UK election: Tom Watson, Labour Deputy Leader, is standing down as an MP and deputy leader; Lib Dems, Plaid Cymru and the Greens have formed a pro-remain election pact with an announcement later today
– Qualcomm stronger than expected results, revenue $100m ahead and earnings per share 7 cents ahead

US equity markets mixed as a report says the US/China “phase one” trade deal may have to wait until December to be signed. Asian equity markets were also mixed
BOE today but nothing expected with the election underway, a 9-0 should be the case. The outlier on the MPC is Saunders, with his talk of a “slow puncture” in the UK economy, he may dissent and go for a cut. Their quarterly forecasts are taking on a new format, watch for the “Monetary Policy Report” to give political scenario analysis for BOE MPC reaction functions
The markets’ recent feelgood factor is wobbling, equity markets mixed and AUDJPY lower overnight a good sign of risk off

The Week That Will Be

On this day in 1908 Butch Cassidy and the Sundance Kid probably died in Bolivia after being surrounded by Bolivian soldiers. Rather than the romantic end seen in the film, it is believed Cassidy shot his wounded partner in the forehead before killing himself

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