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Schumer says Trump could be barred from running again

  
Analysis, Politics

Interesting development

Democratic Senate leader Schumer says that a trial for Trump in the Senate likely won’t occur until after Biden takes over.
Many thought that would be the end of it but evidently not. Schumer said the trial will begin after January 19 and if he’s convicted, there will be a vote to bar him from running again.
That is a very interesting development, that would take Trump out of the 2024 equation. I imagine there might be 17 Republican Senators who want to be done with him. You can be Mitt Romney is one of them.

Italy ministers quit coalition. Puts Premier Conte at risk

  
Analysis, Politics

Italy’s Conte government is at risk

Matteo Renzi’s, leader of the Italia Viva party, says that his party ministers are resigning, putting PM Conte’s government at risk.
Renzi says
  • Italy has to tackle pandemic, education infrastructure
  • Party has faith in Italy’s president to handle crisis
  • takes courage to pull out of government now
The EURUSD moved to a new session low on the news but did find buyers against the lows from yesterday at 1.21364. The low price reached 1.21389 and is trading back at 1.2152 at the moment.
EURUSD on the hourly finds buyers and yesterday's lows

Georgia vote: What does it mean markets

  
Analysis, Politics

Strategy from Citi

warnock, ossoff

CitiFX Strategy offers a comprehensive assessment of implications from the Georgia Senate Democrat victories.

“Bottom line: The outcome of the Georgia run-offs is very significant in two ways: i) by increasing the scope for policy changes, including even more fiscal stimulus and ii) strengthening the MMT (money-financed stimulus) theme in the US and globally,” Citi notes.

‘In markets, the outcome supports a significantly lower USD, higher and steeper US rates, higher breakevens, lower real yields, and higher prices of commodities, precious metals and cryptocurrency,” Citi adds.

China’s Global Times refers to US insurrection as ‘karma’

  
Analysis, Politics

The Global Times is the gutter-press tabloid version of state media in China.

Sort of Rupert Murdoch with Chinese characteristics I guess.
They have not pulled punches today:
  • “chaos in the US” as revenge for what US politicians said on similar scenarios when rioters stormed HK LegCo in 2019. 
  • After inciting troubles around the world, US finally tasted “karma” of double standards. 
On the bright side at least the GT is not kicking Australia today.

The US has slashed visas for members of China’s Communist Party from 10 years to 1 month

  
Analysis, Politics

Posting as an ICYMI on a move to substantially restrict travel to the United States by members of China’s ruling Communist Party and their families.

  • The new policy reduces the maximum validity length of the B1/B2 non-immigrant business and tourist visas for party members and their immediate family members from 10 years to one month
  • the US State Department said the measure was aimed at protecting the nation from the party’s “malign influence,”
China, unsurprisingly,  says the visa changes are an “escalated form of political oppression”
Posting as an ICYMI on a move to substantially restrict travel to the United States by members of China's ruling Communist Party and their families.

Biden reportedly won’t immediately remove China tariffs

  
Analysis, Politics

New York Times reports on the matter

Citing remarks by Biden to one of the media outlet’s op-ed columnist in a phone interview, as to saying that Biden will not immediately remove China Phase One tariffs as he wants to conduct a full review of the existing deal with China.

I don’t think this is entirely unexpected. Those hoping that there will be a relaxation of US and China tensions just because Biden is in charge will need to change that misconception, because US-China relations are still going to be on the rocks in the coming decade.
The only difference with Biden and Trump is perhaps that Biden is less “unpredictable” but it doesn’t change the trajectory in which things are headed towards.

US Court of Appeals: Trump campaign claims have no merit

  
Analysis, Politics

Appeals process continues to not do well

The US federal appeals court rejects the Trump campaign motion for an injunction pending appeal in Pennsylvania case.
  • US Court of Appeals for the Third Circuit says Trump campaign claims have no merit
  • Court says Trump campaign did not make specific allegation or provide proof in Pennsylvania election case

Earlier today, Pres. Trump tweeted the following.

Appeals process continues to not do well_
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