12-11

FYI:

On their Riyadh stock market debut, Aramco shares leapt to 35.2 riyal ($9.39) each, up from the initial public offering (IPO) price of 32 riyals and at the daily limit of price moves allowed by the Tadawul exchange. That gives the state-owned oil giant a market value of about $1.88 trillion, easily making it the world’s most valuable listed company (mizuho)

(Bloomberg) — While many expect the Federal Reserve’s Wednesday decision on rates to be a snooze for markets, strategists at Bank of America Corp. are nonetheless mulling surprises that could stir up bond prices. They see an outside chance that the Federal Open Market Committee’s updated dot plot will signal a 2020 rate increase, an outcome that would flatten the U.S. yield curve and boost the  dollar, according to a report from BofA’s Mark Cabana, Michelle Meyer, Ben Randol and Joe Song. To be sure, that’s not what they view as most probable; they think the dot plot will show the Fed
on hold next year.

Markets:

Gyrations in all markets around 2:00 A.M. as Results from latest Yougov Survey showed P.M.  Johnson’s Conservative party lead almost cut in half.i wouldn’t put too much confidence in this latest survey as GBPUSD and GBPEUR have clawed back almost all losses. Stocks in Greece  +2.2% and Spain 1.5%  back to reality Dax +.5% Spoos little changed as  ae Bonds.  Waiting Game until FOMC or any tweet tape bomb regarding trade talks.

 Trade Hawk Navarro from yesterday evening:

UP TO CHINESE AS TO WHETHER WE GET A DEAL
 *WHITE HOUSE TRADE ADVISER NAVARRO SPEAKS TO FOX BUSINESS
*NAVARRO: CHINA TRYING TO SHAPE NARRATIVE, AFFECT FUTURES MARKET
*NAVARRO: HAS NO INDICATION THAT DEC. TARIFFS WON’T BE PUT ON
*NAVARRO SAYS CHINA TRYING TO SHAPE NARRATIVE ON TRADE TALKS

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