Evening Tuesday Update
What is worth mentioning?
- Democrats in the U.S. House of Representatives take their drive to impeach Donald Trump into a risky phase tomorrow with public hearings that the president is keen to turn into a made-for-TV personal battle. Center stage will be three career diplomats who, in previous closed-door depositions, outlined attempts by Trump’s advisers to pressure Ukraine to announce an investigation into 2020 election rival Joe Biden.
- Nigel Farage, leader of the Brexit Party, is as famous as Boris Johnson and has been a disruptive force in U.K. politics as well as a thorn in the side of the Conservatives. He had threatened to compete in every seat in the Dec. 12 general elections, a move that would have harmed the Tories. His decision not to contest Conservative-held seats aids Johnson but Farage remains an unpredictable player in this most unpredictable of polls.
- Chancellor Angela Merkel signaled support for her finance minister’s plan to break an impasse over European banking integration. The German initiative offers hope of progress in a seven-year effort to bridge differences between the fiscally conservative northern European countries against their neighbors in the south. But Italy has said German conditions are still unacceptable.
While Trump’s lunchtime speech to the Economic Club of New York is the main event today, there are some other verbal interventions that may be worth watching. Philadelphia Fed President Patrick Harker and Minneapolis Fed President Neel Kashkari both speak later. CBS Corp, DR Horton Inc. and Overstock.com Inc. report results as earnings season slowly winds to a close.
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