Greetings,
The United States: Let’s begin with the NFIB small business sentiment report, which showed growing optimism in November.
China: Currency traders have been bidding up yuan options ahead of the December 15th US tariffs deadline.
Commodities: Gold tends to be inversely correlated with US real rates.
Equites: Most of the gains in the Nasdaq 100 index have been in the overnight market.
Credit: According to BCA Research, US investment-grade spreads have narrowed all they can.
Global Developments: The two “safe-haven” currencies have diverged. The Swiss franc is higher due (in part) to the UK elections uncertainty. The yen is lower due to improved US-China trade deal expectations.
Food for Thought: Who is buying political ads?
Edited by Devon Lall
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