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Friday, December 7

7th Dec - Oil rally, China truce pause the bear




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EUROPE
What Europe can learn from Alexander Hamilton – New Statesman
In 2018, despite the prompting of President Macron, the EU missed a crucial window for reform. Can it heal its fractures to create a new European republic?

Ashoka Mody: Germany’s Economy Will Be Europe’s Problem – BB
If people aren’t prospering, they won’t support integration

Editorial: Europe’s Tech Tax Is a Mistake in the Making – BB
If France and Germany cared about efficient and equitable taxation, they’d drop their planned “Google tax.”

Yellow vest protests cast cloud over Macron’s reform plans – Pictet
Recent protests could have a negative impact on French growth, tax revenue and president Macron’s reform plans for his country and for Europe.

Macron Fans the Flames of Illiberalism – BB
Public anger and frustration is soaring in France. Aloof elites can’t contain it.

ECB Preview – ABN AMRO
Gradual dovish shift

ECB Preview – Danske Bank
A new chapter of dovish tightening

ECB Preview – ING
It’s the end of QE as we know it…and we will be fine as the European Central Bank is gradually shelving the controversial bond-buying programme


UNITED STATES
U.S. Nabbing Huawei Is the Dog That Caught the Car – BB
Does it know what to do next? The government must decide what it wants from an explosive move that has angered China.

  NOVEMBER PAYROLLS
U.S. Adds Below-Forecast 155,000 Jobs as Wage Gain Misses – BB
Did the Job Market Slow in November? Here’s How It Compares – WSJ
U.S. job growth cools in November, monthly wage gains modest – Reuters


OTHER
Oil Rises as Much as 5.4 Percent as OPEC+ Is Said to Agree Cuts – BB
OPEC meeting ends with deal to curb 1.2 million barrels a day * Russia is also said to join the proposed deal, delegate says

Oil rallies after Opec agrees to cut output by 1.2m barrels a day – FT
Brent crude jumps 5 per cent on news of pact

This Is the Inversion Stock Investors Should Sweat – BB
The difference between the earnings yield on stocks and the yield on cash is a good bear-market indicator.

Don’t ignore the yield curve – Kevin Muir


REGULARS
EU Open Rundown – RANsquawk

Brussels Edition Daily – BB
Merkel’s Long Exit Begins

Brussels Briefing – FT

Eco Day Europe – BB
May Could Postpone Brexit Vote, Fed Caution, ECB Errors * EU leaders are likely to focus on Brexit at next summit * Interest rate cuts are back on the agenda in Asian economies

FirstFT Daily Briefing – FT

WSJ Daily Economics – WSJ

Danske Daily – Danske Bank
Important day with OPEC+, NFP taking centre stage

Daily Market Comment – Marc Chandler
A Couple More Events before Seeing the End of Difficult Week for Investors

Brussels Playbook – Politico
CDU decides — How Malta became unlikely LGBTIQ hero — David Davis has a laugh

Five Things You Need to Know to Start Your Day – BB

US Open – ZH
S&P Futures Slide, Europe Jumps As Traders Beg For Chaotic Week To Week

US Open Rundown – RANsquawk

Aamukatsaus – Nordea
Tänään markkinoiden mielenkiinto kohdistuu USA:n työmarkkinaraporttiin | Suomesta saadaan alustavat ulkomaankaupan tilastot lokakuulta | OPEC:lta ei vielä saatu päätöstä tuotannon leikkauksista, öljyn hinta laski