Brexit Countdown

An EU official likened the current state of Brexit negotiations to a marathon where runners are “past kilometer 40” of the just over 42-km race.

Britain is also about to irritate the EU further; on Monday, its parliament will go ahead with draft laws that breach an earlier divorce treaty with the bloc with a  new legislation.

A two-day EU meeting from Dec. 11 will try to impose over a 1.8 trillion-euro spending package to aid COVID-hit economies, currently being blocked by Poland and Hungary. Poland  is now suggesting it may compromise.

The ECB, which has long urged more fiscal stimulus, will be hoping a compromise is reached.

The clock is ticking on the Dec. 11 deadline for the U.S. Congress to approve spending bill to prevent a government shutdown. But despite potentially nasty implications for the economy  S&P500 edged lower in only two of the past 10 such episodes.

Investors will also keep an eye on aid proposals, given as Republicans and Democrats in Congress remain unable to reach agreement on economic relief measures.

Deal on fresh U.S. coronavirus relief eluding congressional Republicans and Democrats.