12-4

Trade deal back on for …Now Stock higher bonds and bunds lower

News:

  • ADP missed expectations by 2+ standard Deviations expected 135k actual 67k   trend is down for Job growth according to ADP report.
  • GBP/EUR   Pound/ Euro   near a 2 year high as Boris Johnson Conservative party expanding their lead in Polls ahead of next week’s election GBP/USD +100 ticks near 7 month high.
  • Yesterday’s API Oil Inventories: Crude -3.7m; Cushing -0.3m; Gasoline +2.9m; Distillates +0.8m   are in-line to a touch bullish
  • OPEC meeting tomorrow ,OPEC+ meeting Friday  will they or wont they Extended production Cuts beyond march when current deal ends
  • China Hog Herd has stopped declining and   Spot prices are dropping, Not good for US farmers waiting for tariffs to be lifted to fill China’s needs
  • President Trump will hold Meeting   with Germany Merkel today at 7:30  CST, Trump has ample opportunity to make Comments today as he does not Leave London  till 12:00
  • Phase two of Public Impeachment hearings start today as inquiry moves to the Judiciary Committee, plenty of Fireworks expected today.

Spoos +11 handles, Stocks in Europe higher Dax +.9%,Cac +1%  markets waiting for the Next tweet or headline to tell us what is happening with trade deal

Calendar:

  • 8:45 markit Non-manufacturing PMI
  • 9:00 Non-manufacturing ISM

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