United Kingdom: Market watching Burnham – Rabobank
The post United Kingdom: Market watching Burnham – Rabobank appeared on BitcoinEthereumNews.com. Rabobank’s Senior FX Strategist Jane Foley discusses UK political dynamics, noting Burnham’s likely unchallenged path to becoming Prime Minister on July 20 and his popularity within Labour. Foley stresses Labour’s weak polling position, tight public finances, tax constraints and uncertainty over the choice of Chancellor as key factors for market sentiment and potential gilt market anxiety. Burnham’s agenda and fiscal constraints “A messy Labour leadership election this summer, would probably not have served anyone well. Although there is a July 17 deadline for other Labour MPs to declare their candidacy for party leaders, it would appear that Burnham will be unchallenged allowing him to take the reins on July 20. The relatively smooth transition will come as a relief to market.” “Also, the popularity of Burnham within Labour may also be a good omen given the deep party factions which Starme