UK: Political Risk Premia In UK Assets Increases Following Guardian Story
UK assets under pressure in recent trade after the Guardian reports that "Peter Mandelson failed his security vetting clearance but the decision was overruled by the Foreign Office to ensure he could take up his post as ambassador to the US".
- "The revelation that the now former ambassador was not granted clearance by UK Security Vetting (UKSV), a division of the Cabinet Office that scrutinises the background of prospective civil servants, will raise further questions about the prime minister’s judgment in appointing him."
- The potential for increased Pressure on PM Starmer is increasing UK political risk premia.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
US: Senate To Start Marathon Debate On SAVE Act Today
Senate Minority Leader John Thune (R-SD) will open debate today on the SAVE America Act, a sweeping package of voter rights bills that Trump says is his “No. 1 priority.” The measure appears to have no route to becoming law, as institutionalist Republicans have rejected Trump’s call to terminate the Senate’s 60-vote filibuster, fearing the consequences for legislation if Democrats are in control of both chambers of Congress.
- CBS notes, "Trump upped the ante last week when he threatened not to sign most other bills until Congress passes the SAVE America Act, adding to growing calls for Republicans to maneuver around the Senate's 60-vote filibuster threshold."
- An initial procedural vote is expected at around 15:00 ET 19:00 GMT to open debate on the measure. It will require a simple majority to pass. Thune likely calculates that dedicating considerable floor time to the package will be enough to keep Trump onside, while maintaining the Senate's filibuster.
- Politico notes, “Republicans will start with a vote to begin consideration of the House-passed bill that would institute new citizenship and photo ID requirements in order to participate in elections. As of Monday, GOP leaders appeared to still be working to lock down support. Thune can lose three Republicans and still have Vice President JD Vance break a tie. Then, Thune is expected to keep control of the Senate by taking steps to block Democrats from being able to force votes on a deluge of amendments that could put Republicans in a difficult spot.”
BOC: Proposed Instant Answers For Bank of Canada Rate Decision Wed
Following are the proposed Instant Answers for the Bank of Canada interest-rate decision due Wed at 945am EST:
- Overnight Rate Target (level in x.xx%):
- Does the Bank signal it is prepared to lower rates in the future?
- Does the Bank signal it is prepared to raise interest rates in the future?
- Does the Bank say the policy rate appears appropriate if its economic forecast is realized?
- Does the Bank signal it intends to leave rates on hold?
EQUITY TECHS: E-MINI S&P: (M6) Corrective Bounce
- RES 4: 6953.50 High Mar 5
- RES 3: 6914.31 50-day EMA
- RES 2: 6860.46 20-day EMA
- RES 1: 6819.75 High Mar 12
- PRICE: 6796.50 @ 14:03 GMT Mar 17
- SUP 1: 6631.50 Low Mar 13
- SUP 2: 6600.00 Round number support
- SUP 3: 6591.00 2.000 proj of the Feb 11 - 17- 25 price swing
- SUP 4: 6538.61 2.236 proj of the Feb 11 - 17 - 25 price swing
A sharp bounce in S&P E-Minis on Mar 9 and the reversal the following day, highlights the fact that recent gains were corrective. The bounce allowed an oversold trend condition to unwind. Note that 6639.75, the Nov 21 ‘25 low and a key support, has been pierced. A clear break of it would strengthen a bearish theme. This would open the 6600.00 handle next. Key resistance is 6914.31, the 50-day EMA. This week’s recovery appears corrective - for now.
