US: News from White House in focus – Danske Bank

Senior Analyst, Jens Nærvig Pedersen at Danske Bank, suggests that there was a string of interesting news from the White House as according to Reuters, US President Trump is said to be close to nominating a person for the position of Fed Vice Chair and apparently Richard Clarida is out of the race for that position.

Key Quotes

“According to a Bloomberg story, US Treasury Secretary Steven Mnuchin has apparently asked congress to lift the debt ceiling before 28 February, which in turn would put a lid on any concerns in the market about a near-term US debt default.”

“Finally, the White House is apparently considering a targeted strike in North Korea as a reaction to a missile test in order to illustrate that the high price the nation could pay for nuclear progress would be feasible according to WSJ. The market did not react to the news, but it serves as a reminder of the geopolitical risks looming in the background.”

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