The research team at Nomura explains that US President Trump is now under further scrutiny for allegedly asking former FBI director James Comey to “let go” his investigation into former National Security Advisor Flynn.
“Mr Comey seems likely to testify in front of the Senate as early as next week, which may put impeachment expectations further in the spotlight for markets. However, impeachment still seems a distant prospect, meaning negative market effects are likely to be more limited over the medium term. Meanwhile, the negative impacts of these latest developments on Trump’s ability to pursue his policy agenda could be more important for markets.”
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