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NY Fed Operational Purchase


EGB/GILT SUMMARY- Holding onto gains


Trade Minister Liz Truss tweets: "5th round trade talks have started with our great ally the US. We're intensifying negotiations so we are in a good position to move forward after the US election. We want a deal that delivers for all parts of the UK and is forward-leaning in modern areas like tech & services."

  • The passage of a trade deal with the US before the inauguration of the next president in January remains an extremely unlikely scenario given the timeframe usually required to get FTAs through the US Congress.
  • With Democratic presidential candidate Joe Biden the favourite to win the Nov 3 election, the UK gov't will be keen to get as much done with the US as soon as possible with regards to trade, with a Biden administration likely to have much less interest in both supporting a non-EU aligned UK.
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