Summary for the 13th of March 2019


The changes in the Brexit deal didn’t get approved. The Attorney General for England, Geoffrey Cox, had said that the changes in the Brexit deal, wouldn’t change the legal risk of the backstop solution to last indefinitely.

The MPs at the House of Commons voted down the changes. 391 MPs voted against, and 242 voted for the changes. 75 of the 391 were conservative MPs. For Theresa May, the lose wasn’t as devastated as in January. May has gained more support from the conservative MPs this time around, due to risk of leaving the EU without any deal would be greater if the Brexit got postponed.

The House of Commons will be voting over a hard Brexit (no deal) today. The majority of the MPs is against a hard Brexit. If a hard Brexit gets voted down today, there will be another voting for a postpone of leaving the EU (Article 50). If this also gets voted down, the risk of a hard Brexit will be even greater.

The US core consumer prices rose by 0.1% from January to February, the market was expecting +0.2%. The annual inflation fell to 2.1%, from 2.2%. The decline in February was due to the decline in goods and services. The price of services has been declining in the last six months, due to weaker growth in prices for transportation services. The Federal Reserve, which has announced it will be more data dependent when deciding the monetary policy, is most likely going to postpone the rate hike to later this year.

Indices for 13th of March. The stock markets couldn’t get a strong gain due to the Aerospace Defense sector was holding down the gain (Boeing ended yesterday with -6%). Japanese released numbers for machinery orders were weaker than expected.

Dow: -0.4% (12th of March)
S&P 500: +0.2% (12th of March)
Nasdaq: +0.3%(12th of March)
Nikkei: -1.0%  (13th of March)
Chinese indices: -1.0% (13th of March)
STOXX Europe 600 Index: +0.63% (13th of March)

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