Trump did not conspire...with Russia
After a pretty solid session locally on Friday, our European and American friends decided, in unison, that the growth story is over and so sold equities heavily.
We haven’t seen circa 2% falls for some time and when they came in conjunction with the US yield curve inverting between three months and ten years, it made one take notice.
A look around the global markets on Saturday morning also brought to light the German 10 year Bund yield having slipped back into negative territory at -0.19%. This has left our futures market suggesting a 50 point drop this morning.
Another interesting tidbit on the wires this morning is US Special Counsel Mueller’s investigation did not find that Mr Trump conspired with Russia to influence the 2016 election. I wonder if this may offset some of the weakness we are likely to see this morning.
Will they or won’t they?
Between now and 29 March, there will no doubt be plenty more written on the Brexit topic.
I do love the British sense of humour: