More interest in trade deal than impeachment or USMC deal; Australia’s sideways move

The Washington Post today headlined: ‘House Democrats unveil two articles of impeachment against Trump; White House predicts ‘full exoneration’ in GOP-led Senate’. No surprise then, that the markets continue to ignore the proceedings. Phil Dobbie asks NAB’s David de Garis why there’s been equal ambivalence towards the US Mexica Canada trade agreement, that now looks set to be enacted. The answer, of course, is that there’s far mor interest in the impending deadline for tariff hikes if a US China trade deal isn’t reached. And, of course, the UK election, with the next big MRP poll due out in a few hours. With the fiscal stimulus package announced by the NZ government this morning, plus the Fed meeting tomorrow morning, its going to be a busy 24 hours. Plus, the take-out from yesterday’s NAB Business Survey, which showed a situation that isn’t deteriorating, but its not getting any better either.

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