OPEC’s Catch-22

OPEC’s Catch-22 Explained, ISM Manufacturing PMI Analysis, futures are modestly lower as the Trump-Xi “trade truce” continues to be digested this morning while the yield curve flattened further overnight, underscoring growth concerns, the major underlying story this morning is the yield curve as the 2’s-10s spread compressed to new lows overnight (13bp) and the 2’s-5’s actually inverted. and more.

Is Flat the New Inverted?

Is flat the new inverted? futures are trading slightly lower this morning, after the close yesterday, the WSJ ran an interview with Trump where he said he was ready to move forward with increasing tariff rates, with Powell’s speech later this week still a major focus of the market, the Fed chatter will be watched closely while the market will remain very sensitive to any further rhetoric on the trade front (the other big event being the G20) after Trump’s comments yesterday afternoon. and more.

Technical Market Update

Technical market update, two events to decide the year, weekly market preview, weekly economic cheat sheet (all about inflation this week), futures are surging and global markets are up 1%, there are no notable economic reports or Fed speakers today, so focus will remain on the tech sector and more.

Two Events to Decide The Year?

Today will be a typically quiet post-Thanksgiving Friday but there is an important economic report to watch:  Composite Flash PMI (E: 54.8).  Economic data has been more mixed lately, and a soft number here will fuel concerns the U.S. economy is losing momentum, futures are marginally lower as markets digest recent volatility following a mostly quiet Thanksgiving holiday and more.