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MARKET INSIGHT

Price Signal Summary - Oil Bulls Still In Contro

BONDS

BTP/Bund spread tightest since 4th August

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AUD Softer as Lowe Talks Down Rates Market Pricing

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The UK gov't has confirmed that EU goods being imported into the UK will not face customs or any other checks until 1 January 2022 at the earliest.

  • Full Statement: https://questions-statements.parliament.uk/written...
  • The reasoning behind the extension of the current checkless system (as long as 9 months in some cases) is that the pandemic has disrupted businesses and this will allow them extra time to adapt. The changes are as follows:
    • "The requirement for pre-notification of agri-food imports will be introduced on 1 January 2022 as opposed to 1 October 2021.
    • The new requirements for Export Health Certificates, which were due to be introduced on 1 October 2021, will now be introduced on 1 July 2022.
    • Phytosanitary Certificates and physical checks on SPS goods at Border Control Posts, due to be introduced on 1 January 2022, will now be introduced on 1 July 2022.
    • The requirement for Safety and Security declarations on imports will be introduced as of 1 July 2022 as opposed to 1 January 2022."
  • EU checks on UK imports to the continent will remain in place, providing a major advantage for EU exporters over UK ones.