Danske Bank analysts point out that today the voting in the UK Conservative Party leadership contest begins, where the Conservative members of parliament starts the process to narrow down the number of candidates from ten to just two.
Key Quotes
“Boris Johnson is the clear favourite to succeed Theresa May but nothing is certain, as the Conservatives have a long history stabbing each other in the back. Yesterday, Boris Johnson said he wants a deal with the EU amid the House of Commons rejecting to rule out no deal Brexit by a small majority (however, it was a warning shot that the new Prime Minister should not try to bypass the Parliament). Eventually, a majority in the House of Commons can always force the prime minister to resign in a no confidence vote, if necessary.”
“The Swiss central bank (SNB) decides on monetary policy today at 09.30 CET; unchanged rates (at -0.75% for both the Libor target and sight-deposit rate) are widely expected.”
“Italy’s fiscal stance on the agenda at the euro-zone finance ministers meeting in Luxembourg today.”
“In light of the weak nonfarm payrolls on Friday, we will monitor the initial jobless claims more closely than usually. Jobless claims have in general remained low.”
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