Zurich

Frontrunning: December 20

  • Trump wins Electoral College vote; a few electors break ranks (Reuters)
  • European Stocks Head for a One-Year High (BBG)
  • Japan's Central Bank Keeps Policy Unchanged, Upgrades Economic Outlook (BBG)
  • Russia and Turkey vow to keep detente on track after murder (FT)
  • The Political Implications of Events in Ankara and Berlin (BBG)

S&P Futures Rise Propelled By Stronger Dollar; Europe At 1 Year High As Yen, Bonds Drop

It appears nothing can stop the upward moment of equities heading into the year end, and as US traders walk in, S&P futures are again higher, proppeled by European stocks which climbed to their highest in almost a year, while the USD rose and bonds and gold fell, failing again to respond to terrorist attacks in Ankara, Berlin and Zurich. The yen tumbled after the BOJ maintained its stimulus plan.

Obama Hits The Golf Course After Learning About Turkey, Berlin Attacks

"During his vacation in Hawaii, President Barack Obama has been briefed by his national security team on the assassination of the Russian ambassador to Turkey. The president on Monday directed his team to give him updates as warranted. After a morning workout, Obama headed to Lanikai, where he will play golf at Mid Pacific Country Club."

Three People Hurt In Shooting At Islamic Center In Zurich

Moments after the Russian ambassador to Turkey was shot dead during an exhibition by an attacker who screamed "Allahu Akbar", Swiss Blick magazine reported that three people were hurt during a shooting at an Islamic center in Zurich.

Trumpflation Takes A Breather As Global Stocks Rise, Oil Jumps On Renewed OPEC "Deal Optimism"

With the Trumpflation euphoria easing back slightly overnight, leading to a modest paring in the USD index and US Treasury yields, Asian and European stocks rose, while US equity futures rebounded to just shy of new all time highs, as crude jumped on renewed optimism that OPEC will agree to cut output; metals rebounded from last week’s losses as yields dropped and the dollar halted its longest winning streak versus the euro.

BOJ "Fires Warning At Bond Market" Sending Global Yields, Dollar Lower; All Eyes On Yellen

Global bond yields and the dollar both weakened after the Bank of Japan offered to buy an unlimited amount of debt at fixed yields, stabilizing the global bond rout, while investors awaited testimony from Fed Chair Janet Yellen that will help shape the outlook for interest rates ahead of a December rate hike that is now seen as near certain.