UK politics and Fed speak in focus today – Lloyds Bank

Nikesh Sawjani, Research Analyst at Lloyds Bank, points out that ahead of tomorrow’s triggering of Article 50, UK PM Theresa May’s visit to Scotland yesterday saw her appeal to Scottish voters to keep the UK intact, reiterating that “now is not the time” for another independence referendum.

Key Quotes

“However, following last week’s aborted vote at Holyrood - due to the terrorist attack at Westminster - the rescheduled vote is expected today. While significant public opposition remains, the Scottish government is expected to push ahead and approve that a formal request be made to Westminster for a second independence referendum.” 

“Elsewhere, in the US, a number of Fed speakers are due over the course of the day, including Fed Chair Yellen. While ordinarily, her speech would be closely watched, the location and subject of her talk suggest that this is unlikely to be a market mover. Instead, the focus is likely to be on speeches by Esther George, Robert Kaplan and Jerome Powell, who may offer some insight on whether their respective expectations around the fiscal policy outlook have changed following developments around the healthcare act last week.”