Germany

Sweden's New Government Censorship Exposed

"The Swedish government is now officially questioning free speech. A government agency has declared so-called Swedish "new media" - news outlets that refuse to subscribe to the politically correct orthodoxies of the mainstream media - a possible threat to democracy."

US Futures, World Stocks, Bitcoin All Hit Record Highs

US equity futures continued their push higher overnight (ES +0.1%), and the VIX is 1.5% lower and back under 10, after yesterday's blistering surge in US stocks which jumped 1%, the most since Sept. 11. The biggest mover of the session however was bitcoin, which topped $10,000 in a buying frenzy which saw it go from $9,000 to $10,000 in one day, and which is on its way to rising above $11,000.

DB's "2018 Credit Outlook" - Killer Charts Point To Bearish Not Benign Conclusion

Heading into 2018, DB characterises risk assets as a tightrope walker who’s successfully negotiated a hire wire since the 2008 crisis. However, the confidence of our risk asset funambulist was always fortified by the knowledge that there was a huge safety net direct beneath him in the shape of the central bank put. This will gradually evaporate as 2018 progresses...

Frontrunning: November 28

  • Traders await Powell hearing; Brexit doubts grip pound (Reuters)
  • Fed nominee Powell, once hawkish, now champions Yellen's focus on jobs (Reuters)
  • Tax drama intensifies as bill faces key vote (Reuters)
  • Trump Appointee Asserts Control Over CFPB for Now (WSJ)
  • Senate Bill in Limbo Amid Budget Panel Drama (BBG)

European Stocks, US Futures Rise, Dollar Steady Ahead Of Powell Hearing, Tax Debate

US equity futures in the green ahead of critical Senate debate on US tax reform and a much anticipated testimony from Jerome Powell. European stocks advance, led by oil and gas stocks after Shell fully restored its cash dividend and unveiled a bullish outlook. Asian shares slide despite the reappearance of the Chinese "National Team" which stabilized the SHCOMP selloff in the last hour.

The Saker: How I Became A Kremlin Troll

"By birth, experience, and training, I truly had everything needed to hate Putin... I was born in a family of 'White Russians' whose anti-Communism was total and visceral..."

Key Events In The Coming Week: Senate Tax Vote; Euro Inflation; GDP; OPEC, Fed Speakers

It's a busy week as traders return from the long Thanksgiving holiday, with inflation releases in the Eurozone and Japan. We'll also get the second estimate of US GDP, housing data and ISM manufacturing, UK monetary aggregates and PMIs in China. Finally, the Russia-OPEC meeting takes place in Vienna on November 30, while the Senate hearing of Fed chair nominee Powell and Yellen's testimony before Congress will be closely watched.