Brexit talks commence in Brussels, Chinese housing data on deck, and Macron’s massive majority. Here are some of the things people in markets are talking about.
1. Brexit begins
Formal talks between U.K. and E.U. officials to negotiate Brexit begin Monday amid apparent dissension among the Conservative Party’s leadership regarding the potential terms of the departure. Prime Minister Theresa May will be extending the upcoming session of Parliament for two years to allow politicians to debate the proposed plans “without interruption” and “build the broadest possible consensus,” according to a statement from House of Commons leader Andrea Leadsom.
2. Data by Japan and China
An update on Chinese home price growth for May comes at 04:30 a.m. Data by Japan for trade balance, import and export will be released at 02:50 a.m.
3. Parliamentary elections in France
French President Emmanuel Macron’s Republic on the Move party is poised to capture the country's biggest parliamentary majority in 15 years.
4. Trouble with the Curve
Four Fed hikes later and 10-year Treasury yields are still lower than they werewhen the central bank’s tightening cycle began. Bank of America Merrill Lynch strategists are warning that the “unhealthy decline” in U.S. yields since the Federal Reserve’s interest rate increase last week is indicative of a ‘policy mistake trade’ that seems poised to continue.
5. "Witch Hunt"
One of the U.S. president’s private lawyers said that Trump is not under investigation by special counsel Robert Mueller for obstruction of justice, notwithstanding his tweet suggesting the contrary on Friday. The attorney, Jay Sekulow, made the comments during a number of TV appearances Sunday. In aseries of tweets Sunday morning, Trump yet again referred to the probe into Russian interference in the U.S. election as a “witch hunt.”
Source: Bloomberg Pro Terminal
Jr Trader Ivan Ivanov
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