My opinion is that political certainty/uncertainty can initiate or reverse trends, while economic news can produce variations within trends.

And that large parliamentary majorities act to multiply the number of factions within the governing party, making political management more complex. You can see this in the other day's cabinet reshuffle - the rewards of loyalty and the purge of the disloyal elements. But give it a few years, and there will arise factions which need to be placated.

I'm coming to think that this year won't be a good one for the UK, the GBP, and UK markets, but also that it won't be a particularly bad one either.

I think I'll sit there with my thumb up my *rse waiting for the GBP/USD to move outside the 1.275-1.325 range, quietly accumulating pounds and putting those pounds to work outside the UK.

Good job I trim my nails regularly. . .