'Twas the Night before Xmas
Stock markets at record highs
Tech sector breaking into new territory
Brushing off trade war & recession cries
Let's rewind back to last December
The world was looking a little different
One last hike the Fed would rather not remember
"A mid cycle adjustment" Powell mumbled
followed by two step September and October cuts
"Where did I find this guy" the President grumbled
The China US trade war raged on
In April a deal was "about 90% done"
Took another 8 months to get to Phase One
a terrible year for manufacturing and trade
PMIs slumped into contractionary territory
"95% Republican approval rating, I get top grades!"
"It's all one big witch hunt, am fully exonerated"
Not everyone agreed, as Democrats pressed on
"The evidence suggests, he is NOT fully exculpated"
an equally tumultuous year back in the UK
"Order Order" no one really understood the amendments
But could the bill with the Irish Backstop pass? Three times Nay..
The writing was clearly etched on the wall,
Prime Minister May , resigned in May,
and of course Tory Euroskpetics were enthralled.
Ten eager contenders, to be whittled down to one
Never mind trust issues,
"Let's get Brexit done"
proroguing Parliament and giving unlawful advice to the queen
"Don't worry its a do or die Brexit,
We will be out by Halloween!"
Deadlock in Parliament persisted,
"Time for a General Election" all parties squealed
Even Jeremy Corbyn who had resisted
The Conservative party secured its biggest majority in 30 years
The withdrawal bill now passed with flying colours
Brexit on January 31st with no free trade deal yet... Cheers.
Andrew Bailey confirmed in the seat,
Will the Bank hike or cut we wonder,
Managing brexit will be no easy feat
Caught in a brexit quagmire and manufacturing slump
"Europe treats us worse than China"
Perpetual threat of tariffs being dangled by Trump
new SPD leadership want to re-negotiate the terms
"while we poll low, we want rules of our volition"
As CDU's fiscal campaign made us all squirm
The 5-Star Lega coalition fell apart
Another political crisis as the economy slows?
PD theatrically swept in with 5 Star : "it's a new start"
"Braindead" declared French President Macron
"This isn't just a spending partnership but a political one"
We shook our heads, where did this all go wrong
Oil apparently too oversupplied
"we want full compliance this time: no if , no buts"
Aramco went for a local listing, not quite $2T (but they tried)
The ECB unleashed its latest round of easing
A month before the end of Draghi's term
Now it's up to Lagarde to do the hawks appeasing
Echoing forever in the annals of history
"I am neither a dove nor a hawk
but an owl" Lagarde said fervently
"How dare you, you stole my dreams"
Green warrior Greta Thunberg
Warning of climate change in its extreme
The US President impeached
Hong Kong riots in the East
Codes of civility breached
While we don't know what 2020 has in store
Perhaps one of less uncertainty
Happy New Year to you all
and thank you for watching CNBC! - Jou