EU and UK shake on it
A deal for Northern Ireland trade has made the pound the big winner today. JBWere’s Sally Auld says markets like this because of what it might mean for future trade with the EU. Meanwhile equities have bounced back despite US inflation fears. Why?
NAB Morning Call · NAB - The Morning Call
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Show Notes
Tuesday 28th February 2023
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The pound rose sharply higher today on the news that a deal had been struck with the EU over the problems of the UK’s internal trade with Northern Ireland. JBWere’s Sally Auld says markets have responded to the pragmatism of Rishi Sunak and the hope that it signals the start of a better future for UK-EU trade down the track. Meanwhile, US equities have bounced back today, even though expectations of a higher Fed terminal rate have settled in to place. Is it those buying the dip or the return of the soft-landing brigade? The drip-feed of EU inflation data will be the focus today, ahead of the full number tomorrow.
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