Policy and data updates

  • Trump’s GOP tax plan, involving up to $1.4 Trillion in cuts, to be voted on next week

  • Chinese consumer index best on record— The rise in the headline reading this month came as consumers said their household incomes grew at the fastest pace on record and as discretionary spending improved again

  • Shift in Treasury strategy sparks yield curve debate—US Treasury plans to sell more short-dated government debt as borrowing needs rise.

  • Phillip Hammond’s budget last week included several notable policy proposals – such as the elimination of Stamp Duty for first-time buyers and a range of measures aimed to stimulate house building. Most notably, the budget contained significant downgrades in productivity from the OBR, which in turn is set to damage Britain’s potential economic growth rate, and along with it, the government’s fiscal position

  • Hard-left MSP Richard Leonard elected the new head of the Scottish Labour Party, marking a break with the Party’s more centrist past