Morning Brief – Friday 3rd

 

Markets

 

Big news this week has been the fallback in oil prices to WTI at $61. All eyes in the US and globally on the tea leaves following the Fed’s remarks this week and of course the forthcoming employment data. Bank of England upbeat about UK employment and Governor Carney said yesterday that once Brexit resolved(sic) rates may rise faster than anticipated thereby skirting around the uncomfortable fact that the BoE has been consistent-that is consistent to date in overstating the economic downturn following the EU Referendum 3 years ago.

 

 

 

The Role of Belgium in Europe – hold the front page!

 

This is, we stress, not a Jeremy Clarkson type diatribe (!) on Belgium’s role other than that of hosting the European parliament, Charles Michel the Belgian PM is setting out his stall as the bridge or le pont between Germany and France plus if that was not enough, positioning Belgian as the EU member that calls for a common European vision to counter populism. On top of that Belgium advocates peer group reviews for each country to evaluate the other EU members for their respect of the rule of law for the rights of their citizens and the health of their democracies. Phew! Does one detect a whiff of management consultants par excellence McKinsey?! 

Call in their most famous export, Hercule Poirot tout de suite!

 

 

Statistics and Staycations

 

Blame it on Brexit journalism suggests that fewer Brits are going abroad this year. Top foreign holiday destinations remain:

1.Spain
2. Turkey
3. Greece
4. USA
5. Cyprus

Heady excitement from the lady on the  counter that the sales of Egyptian Pounds through the Post Office have increased 687% in the past year. From a low base and still a small slice of the tourism pie however…..

 

Walk like an Egyptian….

 

 

Discussion and Analysis by Humphrey Percy, Chairman and Founder

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