Here is what happened in the Capital Markets this week.
The Weekly Bottom Line (please click link to open)
The Weekly Bottom Line, courtesy of TD Economics, includes a review of market performances, recent key economic indicators, a calendar of upcoming key economic releases, and other relevant data. The highlights from this week’s report include:
· The government shutdown extended to its 28th day, making it the longest on record with no clear end in sight.
· The White House upped its estimate of the impact of the government shutdown to a 0.5ppt drag on 19Q1 growth after four weeks. This is much higher than private sector estimates of between -0.1 to -0.2 ppts.
· As expected, the Brexit withdrawal agreement was soundly rejected by UK parliament. With the March 29th deadline fast approaching, it looks increasingly likely that the UK will have no choice but to seek an extension from the EU.