Pulled Health Care Act means bruised egos but little else!
President Trump’s decision to pull his American Health Care Act bill late on Friday was seen by some as an early referendum on his policy agenda. However we wouldn’t agree with such a blunt assessment. In reality Trump was unlikely to ever get much (if any) Democratic support to overturn a healthcare policy that more than anything else symbolised the Obama administration.
No surprises from the Fed, Rutte victory a ‘shot in the arm’ for European investors
As expected the US Federal Reserve last night voted to increase US interest rates by 0.25%. In truth little emerged that would cause investors to alter their views on the trajectory for interest rate moves in 2017 and 2018.
Draghi sticks to the script, but some crumbs of hope for the hawks
This afternoon the European Central Bank kept all its key interest rates unchanged. In his statement President Draghi reaffirmed the ECB’s forward guidance, saying that interest rates will stay at present or lower levels for an extended period and well past the end of its Quantitative Easing program. On the inflation outlook he again reiterated his previous comment that there was no convincing upward trend in underlying inflation.
Strong performance from the Irish economy in 2016 but 'once offs' cloud the picture again
This morning the Central Statistics Office (CSO) released the National Accounts for Q4 2016
Trump’s Congress speech – long on aspiration, short on detail
Investors eagerly awaited President Trump’s speech to Congress last night for any detail on his tax, trade and healthcare reform plans in particular. Unfortunately there was nothing for them to chew on with the speech largely just reiterating Trump’s broad vision on all these issues.