UKRAINE: Zelenskyy-Vance Meeting Set To Get Underway Shortly
Feb-14 16:22
A key meeting between US Vice President JD Vance and Ukrainian President Volodymyr Zelenskyy is set to get underway momentarily on the margins of the Munich Security Conference in Germany.
- The meeting could provide some clarity over the US position with regards to a peace settlement in Ukraine, following a series of contradictory statements from Trump administration officials.
- Rubio said yesterday: “…there’s a lot of sensitive issues to talk about: territorial claims, arms control and things of that nature, language and cultural matters, all that is going to have to be worked through.”
- AP notes that Zelenskyy said earlier today "he will only agree to meet in-person with Russian leader Vladimir Putin after a common plan is negotiated with [Trump]." He added he believes Trump is the "key to ending the conflict."
- CNN reported yesterday that the contradictions are creating “uncertainty and anxiety” among US allies, particularly European allies who fear being sidelined from negotiations that will impact their security.
- The meeting comes after a combative speech from Vance that touched more on cultural issues than the war in Ukraine. The speech is likely to add to recent US-EU tensions and was panned by German Defence Minister Boris Pistorius as "not acceptable."
- CNN reports that the US team is not expected to meet any Russian officials in Munich, noting that Trump told reporters yesterday that "Russia is going to be there with our people".
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US STOCKS: Early Equities Roundup: Post-Data Rally Sees Nasdaq +2%
Jan-15 16:21
- Stocks surged higher Wednesday, the DJIA and SPX Eminis +1.5-1.6% while the Nasdaq gained over 2.1% after core inflation data slowed for December. Currently, the DJIA trades up 599.5 points at 43118.16, S&P E-Minis up 88 points at 5970.5, Nasdaq up 392.5 points at 19436.96.
- Financials, Communication Services and Information Technology sectors outperformed in the first half, banks led gainers after better than expected earnings reported by Blackrock +3.62%, Bank of NY Melon +6.18%, Wells Fargo +5.18%, JP Morgan +1.38%, Goldman Sachs +4.96% and Citigroup +5.69% this morning.
- Interactive media and entertainment shares helped the Communication Services sector rebound after declining the last couple sessions: Meta +3.75%, Alphabet +2.65%, Live Nation +2.47% while Netflix gained 1.97%. Same for IT with semiconductor shares trading stronger despite ongoing curbs on China exports: Micron Technologies +5.90%, Monolithic Power +3.0%, Qualcomm +2.95%, Nvidia +2.3%.
- On the flipside, Health Care and Consumer Staples sectors underperformed in the first half, pharmaceuticals weighing on the former with Viatris -3.24%, AbbVie -2.35%, Charles River Labs -1.63%. Food manufacturers weighed on the Consumer Staples sector: Kroger and Hormel both -1.67% while Conagra declined 1.52%.
FRANCE: PM Looks Safe In 16 Jan Censure Vote, But Bigger Obstacles Ahead
Jan-15 16:17
The gov't of PM Francois Bayrou is likely to avoid being ousted at the first hurdle in the censure vote set to take place tomorrow (Thursday 16 Jan) in the National Assembly. The censure motion was put forward by the far-left La France Insoumise (LFI) on 14 Jan following Bayrou's general policy speech to parliament. President of the National Assembly Yael Braun-Pivet has said the chamber will take up the motion at 1500CET (0900ET, 1400GMT).
- The centrist Ensemble, MoDem and Horizons parties will back Bayrou, as will the conservative Republican Right.
- Far-right Rassemblement National (National Rally) deputy and party spox Sebastien Chenu said "We will not vote for censure today. We only vote for censure on concrete actions and not on words,"
- The most intense focus will be on the centre-left Socialist Party (PS). It sits within the leftist New Popular Front (NFP) alongside LFI and other groups, but is being courted by Bayrou in an effort to win sufficient support to pass a budget.
- After Bayrou's speech, PS head Olivier Faure said "On the essential issue, that of pensions, the Prime Minister has opened the door a crack, and it is true that this is an achievement (...) but it is not enough," adding "At this stage, we will censor," and said he was waiting for "a clear answer".
- The RN's likely abstention will mean the LFI does not have the votes to oust Bayrou even if the PS sides with its NFP allies.
MNI EXCLUSIVE: MNI INTERVIEW: Gilt Hit Weighs On Inflation - Ex-BOE Saunders
Jan-15 16:12
Ex-BOE Monetary Policy Committee member Michael Saunders talks to MNI about the policy implications of the gilt shock..-On MNI Policy MainWire now, for more details please contact sales@marketnews.com
