Highlight of the Week
Andrew Bailey selected as governor of the Bank of England
- Bailey is the chief executive of the Financial Conduct Authority (FCA) and is set to become the 121st governor of the Bank
- He will replace Mark Carney at the start of February
Rate Curves
Rapid Report:
Credit Suisse caught amidst another spying scandal
- Switzerland’s second-largest bank blames former chief operating officer for hiring detectives in February to track a former HR executive
- The rogue operation deepened a spying scandal at the Swiss group, which is already under investigation for putting its ex-wealth management chief under surveillance
Donald Trump impeachment
- On December 18, the House voted along party lines to impeach Trump after a whistleblower alleged Trump may have abused the power of the presidency by withholding military aid as a means of pressuring newly elected president of Ukraine
- Stalemate between party leaders Pelosi and McConnell will persist over trial witnesses and a Senate vote will require two-thirds supermajority vote to pass
Santa Claus rally
Historical stock effect poised to boost stocks in the last 5 days of the calendar year
