The last minute intervention from the DUP scuppered a tentative agreement on the Irish border issue which remains unresolved. Understandably the pound has weakened to reflect the initial disappointment although weakness so far has been more modest than expected. The modest scale of the initial pound sell off likely reflects encouraging comments from European Commission President Jean Claude Juncker and European Council President Donald Tusk. Jean Claude Juncker stated that he was still “confident” that we can reach sufficient progress before the EU Leaders Summit on December 14-15. Today we include a straightforward primer that explores the underlying issues at stake for both sides. We also look at the latest set of global PMIs which were impressive, and which Ned Davis Research suggest paint a very bright picture for growth momentum. Petroleum Policy Intelligence highlight growing geopolitical risks following the death of former Yemeni president Ali Abdullah Saleh, Deutsche Bank argue that US tax repatriation isn’t the big deal some are making it out to be, while PantheonMacro predict a steeper yield curve in Europe in 2018.