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29 May 2017

UK polls closing on Tory reversals - BBH

Analysts at Brown Brothers Harriman explained that the UK Prime Minister May thought the odds favoured her when she engineered the snap election, having to manoeuvre around the law the Cameron had signed that sought to avoid this practice and set a formal election schedule.  

Key Quotes:

"Initially, polls showed the Tories with as much as a 20 percentage point lead over the seemingly hapless Labour Party.  The polls closed considerably following the latest Tory reversal (on the extent of elderly responsibility for their own health care costs).  This appeared to weigh on sterling last week when it suffered its largest weekly decline in six months (-1.8%).  

As many as six polls were reported over the weekend that showed the Tories are still set to win the coming weekend election.  All the results gave the Tories a wider lead than the YouGov poll before the weekend, which put the lead at five percentage points. On average, the weekend polls gave the Tories an average of a 10-point margin. Sterling was the strongest of the major currencies, gaining about 0.3% against the dollar and euro."

May 29, 2017

WTI rises above $50 despite low volume

Crude oil prices started a technical rise in the NA session, carrying the barrel of West Texas Intermediate above the critical $50 handle. As of writi
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May 29, 2017

China may lose its A1 rating - UOB

Analysts at UOB noted that two days after downgrading China’s rating, Moody’s said on Fri that China may lose its A1 rating if there are signs that de
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