apelike Posted February 5, 2018 Share Posted February 5, 2018 So, May has confirmed the UK will be leaving the Customs Union for a non-specified agreement. I expect the markets today to be quite volatile... The Brexit news has done nothing much to the markets as all markets globally are down because of the the bad downbeat close on Wall St last week. The interesting news is that Italian banks have been selling off their domestic sovereign debt because of concerns that they will be hit hard when the European Central Bank ceases quantitative easing. So far they have sold off 10.5% of stock equivalent to 52.6 billion Euros. A sign of things to come with other members. Link to comment Share on other sites More sharing options...
L00b Posted February 5, 2018 Share Posted February 5, 2018 (edited) So, May has confirmed the UK will be leaving the Customs Union for a non-specified agreement. I expect the markets today to be quite volatile...It will be the CU in all but name, because a hard NI border cannot be avoided otherwise (...and the UK gave undertakings about no border for progressing negotiations onto Phase 2 talks). I'd expect markets to be well acquainted about that un-squarable 'CU/NI border' circle, so I would not expect any out-of-the-ordinary movement. Yet. I'd suggest the Free Cake Union for a name. Keeps both the simpler-minded happy ("See? We did get our cake!") and the trading wheels turning Edited February 5, 2018 by L00b syntax Link to comment Share on other sites More sharing options...
RJRB Posted February 5, 2018 Share Posted February 5, 2018 In politics no one wants to lose face,apologise or be accused of doing a U turn. We will now be heading for A custom union,as opposed to THE custom union. Whatever.We will certainly be paying more in the medium turn for imported goods and the benefits,if any will be very long term. Link to comment Share on other sites More sharing options...
andyofborg Posted February 5, 2018 Share Posted February 5, 2018 In politics no one wants to lose face,apologise or be accused of doing a U turn. We will now be heading for A custom union,as opposed to THE custom union. Whatever.We will certainly be paying more in the medium turn for imported goods and the benefits,if any will be very long term. ah yes, but we all get a free unicorn. don't we???????????????? Link to comment Share on other sites More sharing options...
I1L2T3 Posted February 5, 2018 Share Posted February 5, 2018 ah yes, but we all get a free unicorn. don't we???????????????? It’s called the Brexit Dividend. Link to comment Share on other sites More sharing options...
melthebell Posted February 5, 2018 Share Posted February 5, 2018 ah yes, but we all get a free unicorn. don't we???????????????? and a money tree? Link to comment Share on other sites More sharing options...
tzijlstra Posted February 5, 2018 Share Posted February 5, 2018 The Brexit news has done nothing much to the markets as all markets globally are down because of the the bad downbeat close on Wall St last week. The interesting news is that Italian banks have been selling off their domestic sovereign debt because of concerns that they will be hit hard when the European Central Bank ceases quantitative easing. So far they have sold off 10.5% of stock equivalent to 52.6 billion Euros. A sign of things to come with other members. The GBP took another significant hit against both the Euro and the USD. You are right that there already was an expected volatility, but adding fuel to the fire considering there is volatility is hardly helpful. Anyway, we'll see what the long term effect is. With all the flip-flopping going on in cabinet at the moment I doubt any trader can establish what the actual game is. Link to comment Share on other sites More sharing options...
Lex Luthor Posted February 6, 2018 Share Posted February 6, 2018 Anna Soulbury just threatened to resign on Good Morning Britain, unless Theresa May "grows a spine". - Hey, hey. Brexit really is the gift that keeps on giving. Link to comment Share on other sites More sharing options...
ENG601PM Posted February 6, 2018 Share Posted February 6, 2018 Hard Brexit here we come. The Law Of Unintended Consequences is hard at work for Remainers. Link to comment Share on other sites More sharing options...
RJRB Posted February 6, 2018 Share Posted February 6, 2018 Once you start falling off a cliff it’s difficult to arrest the fall. Particularly when the Mogg and Boris are pushing you. Link to comment Share on other sites More sharing options...
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