Morning Brief – Markets, GBP and Brexit

Markets, GBP and Brexit

 

So much to write about so many different aspects of the political maelstrom in which UK plc is currently being buffeted, but in the end it comes down to just three potential outcomes: 

1. NoDeal Exit. 2. Exit with a Deal. 3. No Exit. 

Such is the frustration caused by all this in the markets, that incredibly and very dangerously, the current perceived “wisdom” is that it would be better/less bad for Boris Johnson’s government to be replaced by a Jeremy Corbyn led coalition government. Unfortunately the collective market memory does not go back 50 years to the decade of 1969 to 1979. If it did, there would be NO flirting with such a dangerous and damaging concept. But that is where we are and while GBP is slightly weaker than the highs of the end of last week, it is unwisely and naively partly buoyed by this latest thinking.

 

 

Doha Accord

 

No nothing to do with trade, but rather to do with the Al Thani rulers being impervious to the practical problems of Qatar hosting the World Athletics Championships by insisting on not relaxing the rule of segregated gyms. As long as female athletes have female trainers, no problem, but all too frequently this is not the case -and vice versa with male athletes. 

It does beg the question of just how footballers will manage in the absence of their very many female gym trainers in pursuit of the World Cup in Qatar in 3 years time.

 

 

Wanting and not getting

 

We wrote at the time of the launch of the Indian space mission Chandrayaan 2 back in July of the quest to put an Indian vehicle on the surface of the Moon. On Saturday morning the lander vehicle probe named Vikram disappeared from monitor screens as it approached the Moon’s surface to the consternation of mission control in Bengaluru. So the quest for India to be the first nation to reach the Moon’s South Pole looks to be over. No chapatis and champagne this weekend and it’s back to the drawing board.

 

 

 

 

Discussion and Analysis by Humphrey Percy, Chairman and Founder

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