The Day Today 3rd December 2019

– Trump’s administration proposed 100% tariffs on French goods and the US trade representative’s office was looking at broadening punitive tariffs on the EU
– RBAustralia keep rates unchanged highlighting lagged stimulus of previous cuts “variable lags in the transmission of monetary policy”
– UK election: Trump’s UK visit ahead of a NATO meeting prompted Jeremy Corbyn to write about the NHS and US involvement; Johnson will call for NATO unity

Big drops in US and European equities after weak factory activity, ISM 48.1 and reimposition of tariffs on Brazil and Argentina by the Trump administration. French and EU tariff escalation was not positive with Asian equity markets mixed at best
It’s the NATO meeting in London, Boris Johnson will try avoiding one-on-one time with Trump and there are no formal bilateral meetings planned. It’s all headline trading at present and Boris avoiding slip-ups ahead of the election. The trade issue is also once again trading on headlines, none good at present

The Week That Will Be

On this day in 1967 Christiaan Barnard performed the world’s first human heart transplant, in Grote Schuur Hospital, Cape Town

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