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Risk Assets

Risk appetite rose early on Monday on headline news surrounding Brexit and the US-China trade war.

The focus for the rest of this day’s trading session will be on two main points.

The first is on Johnson’s “meaningful” vote request.  And the second is whether a US-Sino trade deal is indeed possible next month, as Trump has claimed.

Borris Will Push For a “Meaningful” Vote

The British PM requested but did not sign another extension from the European Commission over the weekend.

This drove the market’s confidence up as MPs approved the Letwin postponement amendment. We now expect Johnson to request a “meaningful” vote to get Brexit done by the 31st as the expectation of getting legislation through parliament rises.

In any case, it seems that both outcomes increase the risk-on mood. The pound is up 100 pips at the time of writing, reaching a May high on the back of increased risk sentiment.

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