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Parliamentary ‘Twilight Zone’ Confounds U.K. Market Strategists
U.K. Prime Minister Boris Johnson had a second bad day after Parliament moved to block the U.K. from leaving the European Union without a deal and later rejected his call for a general election. For domestic U.K. stocks, that may support a more risk-on mood as the chance of the country crashing out of the European Union without a deal in place is diminished, according Mediolanum. The pound posted its biggest gain in six months on Wednesday, before giving back some of the gains Thursday. The internationally-focused FTSE 100 is little changed, underperforming the broader European gauge, with some large exporters ... (full story)
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The elites think we are stupid. They are in the main quite correct.