Today's UK-EU trade deal reflection - what is rarely stated in discussions about the deal's shortcomings is that they reflect UK government policy choices - in particular that control of immigration and a US trade deal are a higher priority than an EU deal.

Thus, why was it not a UK government priority to secure for UK musicians the rights to tour the EU? Because that would probably have required a reciprocal right to be given to those in the EU, which we didn't want to give. Choice.
Meanwhile why did the UK government not seek or secure a reduction in food inspections for GB products going to the EU? Because that would probably have required fixing food regulations in a way that might have been an obstacle to a US trade deal.
Works the other way as well. Why did the EU refuse UK requests on mutual recognition of industrial testing? In part at least because of UK lack of commitment on maintaining the previous EU system of standards and conformity assessment which might be a problem in a US deal.
One of the strangest opinions in the London politics bubble is that the UK government isn't that bothered about a US trade deal, as it so obviously goes against the evidence. There might be domestic opposition, but this was to be Brexit Dividend Number 1.
Perfectly reasonable of course for the UK government to have political priorities. Just particularly strange that we don't discuss them in this way. And those who want a stronger relationship with the EU have to tackle the immigration issue in particular.
Really we need to get better at discussing the UK's political choices. Because whether immigration, deregulation, food, data rules, all will affect our trade policy.

But it isn't a conversation the government wants and hence there is no obvious place for it to happen.
The EU negotiation abstract of pre-December 31 is becoming real, and now we start to learn the impact of choices, and the immigration and US trade deal priorities. Let's see if those priorities hold or change with circumstances. /end

More from David Henig

We need to talk about UK politics. More specifically we need to talk about the absence of opposition to a no-deal Brexit risking Scottish independence, Northern Irish peace, the end of the mass market car industry, more expensive food, and damaged relations with US and EU 1/n


Project fear and the red wall. The first meaning that every serious threat, such as that of Nissan that their plant will be unsustainable, is dismissed with little discussion. The red wall, apparently so angry with Labour about the EU they are afraid to have a position. 2/

Because 'sovereignty' apparently. But a particularly nefarious form of sovereignty in which the normal kind of things you discuss in a Free Trade Agreement - shared rules, access to waters - become when discussed with the EU unacceptable infringements and threats. 3/

You note in the UK we aren't having a discussion on what level playing field rules or access to fishing waters might be acceptable. Or normal. Or even what we might want, like shared increased commitments on climate change. No, all rumours. Evil EU. Worse French. 4/

Those who follow closely see incredible briefings in the papers, like today claiming the EU demand for raising minimum shared standards was only raised on Thursday, treated as fact. This was known months ago. But the media too often just reports the spin as fact. 5/

More from Brexit

They have started in the Scottish case

Looks like a near-concession that the side letter is Padfield-compliant
On this, I think it’s highly unlikely to occur in the timeframe given. For several reasons, I don’t think it’s realistic for Scotland to secede, and then join the EU, in 9 years.

For that, thanks goes to Brexit.

A thread because why not...


Two important dates: March 2016 and January 1st 2021.

Firstly, prior to the 2014 referendum, the Nationalists proposed a date of March 2016 to secede.

Secondly, today - the end completion of Brexit five-and-a-half years after Cameron’s majority in 2015.

Brexit has demonstrated many things, primarily that splitting unions is not easy. The UKs membership of the EU was 47 years and by the end it was not at the heart of the EU. The Union has existed for over 300 as a unitary state.

Dividing a unitary state, like the UK, will not be easy. Frankly, it will make Brexit look simple. Questions of debt, currency, defence, and more will need to be resolved ... something not addressed with Brexit.

Starting with debt. Scotland will end up with its proportionate share of the UKs national debt. It’s not credible to suggest otherwise. Negotiating what is proportionate won’t be easy when both sides disagree.

It’s importance will be seen shortly.

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A THREAD ON @SarangSood

Decoded his way of analysis/logics for everyone to easily understand.

Have covered:
1. Analysis of volatility, how to foresee/signs.
2. Workbook
3. When to sell options
4. Diff category of days
5. How movement of option prices tell us what will happen

1. Keeps following volatility super closely.

Makes 7-8 different strategies to give him a sense of what's going on.

Whichever gives highest profit he trades in.


2. Theta falls when market moves.
Falls where market is headed towards not on our original position.


3. If you're an options seller then sell only when volatility is dropping, there is a high probability of you making the right trade and getting profit as a result

He believes in a market operator, if market mover sells volatility Sarang Sir joins him.


4. Theta decay vs Fall in vega

Sell when Vega is falling rather than for theta decay. You won't be trapped and higher probability of making profit.