Bitcoin's 'Message' & Tax Reform's 'Hidden Agenda'

"The dirty open secret here is that these central bank interventions are the only means for keeping the capital markets up, and that the markets are just a Potemkin false front for Western economies that are drying up and blowing away..."

November Payrolls Jump 228K, Beat Expectations But Wage Growth Disappoints

In a continuation of the recent theme shown by the labor market, the BLS reported that November payrolls rose by a seasonally adjusted 228K, beating expectations of 200K, however as has been the case recently, there was the usual disappointment in wage growth, which rose less than expected, while previous data was revised lower.

Frontrunning: December 8

  • U.K., EU Reach an Agreement on Brexit Divorce Terms (WSJ)
  • What's in the Brexit divorce deal? (Reuters)
  • China exports growth hits 8-month high, imports defy pollution curbs (Reuters)
  • The Bitcoin Whales: 1,000 People Who Own 40 Percent of the Market (BBG)
  • Senator’s Shaky Obamacare Deal Poses Tax Challenge (BBG)

US Futures, Global Shares, Dollar All Jump On Brexit, Basel News, Averted US Shutdown; Payrolls Loom

U.S. equity index futures have bounced on the last day of the week, along with European and Asian shares, oil and the dollar following overnight news that the UK and EU have reached a successful conclusion on Phase 1 of Brexit negotiations, that Congress has punted on the government shutdown for another 2 weeks until December 22, and ahead of the November nonfarm payrolls data.