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Green policy put first

Today’s news headlines:

‘Johnson tells Merkel UK’s ready to go without an EU trade deal’. During a conversation on Tuesday between Boris Johnson and Angela Merkel, Boris warned that the UK was ready to leave without a deal at the end of the year if the EU wasn’t prepared to make compromises. Sticking points include fishing rights, EU-UK law, and access to the single market. Johnson’s office added ‘the UK equally would be ready to leave the transition period on Australia terms’ if current intensified trade negotiations fail. (Bloomberg)

‘Lagarde puts green policy top of agenda in ECB bond-buying’. Christine Lagarde is committing the European Central Bank's 2.8 trillion Euro asset purchase scheme to target green objectives while promising to examine its current operations to fight against climate change. The ECB would be the first major central bank to pursue green objectives through bond-buying programmes. The Bank of England also recently said it would consider climate change in its corporate bond-buying schemes. (Financial Times)

Today's events, rates, and data 

  • Chinese equities continue to rally mid-week while the rest of APAC slipped. European futures signalled further losses today before the opening bell while sovereign yields tick lower. The Pound held onto yesterday’s gains.

Today's events

Rishi Sunak delivers a statement on the UK economy at 12:30pm
ECB Vice President Luis de Guindos speaks at 3:00pm
Fed’s Raphael Bostic takes part in a webinar on the US economy at 5:15pm

Interbank rates:

GBP/USD: 1.2550
GBP/EUR: 1.1120
EUR/USD: 1.1285
USD/CAD: 1.3600