Economists not as upbeat on growth as Trump:

Despite all the positive sentiment surrounding the reflation trade, there has been a recent pickup in concerns that fiscal stimulus expectations may be somewhat overdone. Much of the discussion has revolved around the growth headwinds from demographics and sluggish productivity trends, though there has also been some focus on the complications of corporate tax reform […]

Oil higher again:

Oil higher on optimism surrounding OPEC’s ability to finalize a preliminary production cut agreement reached back in late September. Nothing particularly incremental, though a member of the Nigerian delegation said that OPEC is likely to reach a consensus over the implementation of a deal at technical meeting today. There was also some positive commentary out […]

Yellen sticks to Fed message:

No surprises in Fed Chair Yellen’s prepared remarks ahead of her testimony in front of the Joint Economic Committee this morning. In terms of monetary policy, reiterated that the FOMC determined at October meeting that the case for a rate hike had continued to strengthen and a move “could well be appropriate relatively soon”. No […]

UK government loses Brexit ruling:

In a surprise move, UK government lost High Court lawsuit over whether it has the right to start the formal process of Britain’s exit from the EU without a vote in parliament. Sterling rallied on the ruling. In response, government said it will appeal decision in the Supreme Court between 5-Dec and 8-Dec. High Court […]

China manufacturing PMIs surprise to upside:

Official China manufacturing PMI increased to 51.2 in October from 50.4 in September. This was ahead of 50.3 consensus and strongest reading in over two years. Details fairly upbeat. Production increased to 53.3 from 52.8. New orders increased to 52.8 from 50.9. Improvement driven by domestic demand as new export orders slipped to 49.2 from […]