The Eurozone: German banks are holding record amounts of physical cash.
China: The government is expected to continue providing substantial fiscal stimulus to the economy in 2020.
Commodities: ETFs’ holdings of gold hit another record high.
Energy: The front of the Brent curve shifted into contango (positive-sloping) amid demand concerns. Goldman is now advocating a bet on the return to backwardation.
Also, bankruptcies in the Texas oil patch continue to rise.
Rates: Flows into bond and money-market funds accelerated in recent months.
Food for Thought: US breweries:
Edited by Devon Lall
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