No move

• Political standoffs are in fashion this season, with Brexit talks going nowhere right now.

 

• Prime Minister Theresa May is refusing to move on her “red lines” as she tries to reach a compromise with parliamentary opponents.

 

• She also canceled plans to attend Davos. Currency markets are relatively sanguine, with the pound trading close to $1.30 this morning, but bond investors are worried.

 

(Source: Bloomberg)