Commods – Oil recovered and has traded back up to Jan highs, with WTI <$53

Headlines: Trade War - U.S. Treasury Secretary Steven Mnuchin discussed lifting some or all tariffs imposed on Chinese imports and suggested offering a tariff roll-back during trade discussions scheduled for 30th Jan (BUT Trade Rep Lighthizer is pushing back against easing tariffs and a Treasury spokeman later said that no recommendations had come from Mnuchin or Lighthizer)

Brexit – the motion on the Govt's next steps will be put forward on Monday but with the debate on the motion not until 29th Jan. PM May is standing firm on not ruling out a ‘no-deal’ Brexit, prompting opposition leader Corbyn to finally come round to his party’s thinking and putting a second referendum firmly on the table.

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