The fuel injected Brexiter comments on the EU's vaccine problems miss many points.

New: the European Parliament's announcement that it will not ratify any treaty before the end of December unless the deal is concluded by midnight on Sunday comes amid signals that, despite progress, a deal won't be concluded until early next week.

2/ This is because there are still some formidable hurdles in the way of closure on the level playing field issue, and they haven't even got into fisheries in a big way yet. And both sides say things there are "extremely difficult".

3/ Yesterday there were some signals that a deal could be done by the weekend, but the mood seems to have dipped somewhat.

4/ The EP is saying it wants a "provisional" text from the European Commission "as soon as possible" - not clear if that means even before the midnight deadline

5/ If a deal is not concluded by Sunday night then we are in uncharted waters

Many bearish sentiments across the mortgage sector because they believe companies won't succeed as much when rate finally go back up (3 maybe 4 years from now). Which makes sense except for $GHIV and here's why. In 2016 Brexit came & rates went down which lead to huge success...

in mortgages. Business was great for many companies but then in ‘17 and ‘18, rates went up. What happened you might ask? A lot of people got compressed, margins got compressed, rates went down, & people struggled in the mortgage market...

Well UWM ( $GHIV ) compound annual growth rate, from ‘16 to ’18, was 28%. Companies that focused on refi struggled, so obviously a very successful company like Rocket or Quicken, they went down 14% in compound annual growth rate in those years...

$GHIV actually grew, and so did their profits, so the opportunity to continue to grow in all cycles is a big differentiator for UWM, and the broker channel versus a lot of our competitors. When rates rise, it's actually even better for $GHIV (UWM)..

If rates stay low, great UWM will continue to crush but when the rates rise, they will continue to steal even more market share because of how they operate in the mortgage sector. People also talk about the speed in closing a loan & that other competitors are faster...

Japanese companies in the UK who have moved their product distribution hub to the EU in anticipation of what is now happening. One in a long thread, just to make a point that *some* companies have been preparing for worst case Brexit for years 1/13

Allegro MicroSystems Europe, semiconductors and ICs, owned by Sanken Denki, now importing into EU via Netherlands rather than UK. Amano Enzyme Europe transferred EU stock to warehouse in EU 2/13

Anritsu EMEA (sales and service of testing and measuring solutions to communications industry) all EU deliveries now go to second transport hub in Netherlands. Audio Technica established European Distribution Centre in Netherlands for Brexit (bit of a 🇳🇱theme here) 3/13

Eisai Europe (manufactures pharmaceuticals in Hatfield) transferred centralised marketing authorizations to Frankfurt, established testing and storage facilities in Antwerp. Electric Glass Fiber holding stock in EU for Brexit 4/13

Enplas Europe (semiconductors) acquired warehousing in NL for Brexit. Fujichem Sonneborn opened warehouse in Spain for Brexit. Furukawa Electric Europe shifted warehouse and distribution to Germany. 5/13

NEW: 🚨🇪🇺🇬🇧🚛🚚🍤🐟🚢🇬🇧🇪🇺🚨 Building of Brexit border posts faces delays via...industry calling for delay to July 1 U.K. #brexit border roll out - my latest via ⁦@FinancialTimes⁩

This goes back to last year, when UK gov got £430m of bids for new Border Control Posts and only funded £194m worth - and those bids that won took a 33pc 'haircut'. Result, everyone unhappy - those that got nothing, and those that won, got not enough

The result is that ports looking to build BCPs to accommodate new border coming in from July 1 say they haven't got enough money. They want either delays to border on July 1, or flexible implementation. /3

So as @timgmorris of @UKMajorPorts group tells me: “We need urgent action from the government to show flexibility either on the July 1 deadline or what is required on that date....or accept potentially serious implications for traffic flows this summer." /4

@timgmorris @UKMajorPorts As @richard_bpa of @britishports says “There is now a real danger that customs infrastructure won’t be ready by July in some ports and we’re urging ministers to take a pragmatic approach to ensure that goods can continue moving at those locations,” /5