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Friday, November 25

25th Nov - Dull Black Friday

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Erdoğan threatens to open borders to migrants – Politico

The Autumn Statement marks the return of austerity – Simon Wren-Lewis

Eurozone Outlook – Will politics derail the recovery? – ABN AMRO

Euro Rates Outlook – Bond yields past their lowsABN AMRO

London Home Values Surpass 14 Times Earnings for First Time – BB
U.K. Economy Shows No Sign of Brexit Effect as Spending Rises – BB

Jakobsen: 'The old names are going down in flames'TF
Jakobsen called Clinton defeat in March, anticipated Trump policy * 'Elite consensus' being rejected by voters * Elites seek 'further globalisation, further centralisation of power' * Politics, culture represent lagging indicators; economics comes first *'Change will not come because we want it, but because we need it'

Jan von Gerich: Bonds: Trump dump not over - Nordea
Even after the big Treasury sell-off, it is easy to find arguments of why bonds may take another hit. Pricing in more policy uncertainty alone would turn into higher yields. Such moves could be amplified by worries of US inflation finally picking up.

Monthly Commodity Update: The Trump effectABN AMRO

FX ForecastsABN AMRO

Is EURUSD finally getting ready for its 'big breakout´?TF

Danske DailyDanske Bank

US back, USD and yields take a breather, stronger SEK * UK economy continued to grow after the Brexit vote * Yields slightly lower on a slow day marked by US Thanksgiving holiday
The SEK strengthens on very strong confidence data

Morning MarketsTF
The Thanksgiving holiday on Wall Street on Thursday left Asian markets without their usual solid lead today. In forex markets the selloff in emerging market currencies continues with India's rupee and the Turkish lira losing ground.

Daily Market Comment Marc Chandler
Corrective Forces Emerge, but Underlying Trend is Evident

Daily Press SummaryOpen Europe

Brussels Playbook Politico

Five Things You Need to Know to Start Your DayBB
Brexit effect * Bond rout * Lira falls * Markets quiet * Black Friday

Furious Dollar Rally Fizzles On "Black Friday"; US Stocks Set To Open At New All-Time Highs

Frontrunning ZH

FX Update TF
After another furious run higher in USDJPY over the US Thanksgiving holiday the USDJPY rally finally faltered a bit this morning but any countertrend moves in the US dollar’s bull run may prove fleeting and the last leg of the USDJPY rally has been mostly about the JPY not the USD which has already consolidated elsewhere.

USA:n vaalituloksesta myös piristystä viennille? * Turkin keskuspankki pyrki pönkittämään liiraa nostamalla repokorkoa 50 korkopisteellä * Ruotsin kruunu vahvistui suhteessa G10 valuuttoihin * USA:ssa julkaistaan marraskuun ostopäällikköindeksit