In view of analysts at Danske Bank, there was little market driving news to be found in Trump’s State of the Union overnight.
Key Quotes
“Trump argued that the US has a ‘moral obligation’ to build the border wall. However, he did not declare a ‘national emergency’ to fund the wall as some commentators had been speculating ahead the speech. Trump bragged about his 2017 tax cuts but did not speak of new ones ahead of the 2020 election.”
“In respect of the risk of a new government shut-down when the current extension runs out there was little news except that Trump called for bipartisan unity. Importantly, there was little reference to the on-going China-US trade talk.”
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