Morning 12-15

China Data released Yesterday evening, Industrial production good retail sales a bit of a disappointment

 More good news from Moderna:

  • BN 12/15 12:54 *MODERNA VACCINE IS SAFE, EFFECTIVE AGAINST COVID-19: FDA STAFF
  • FDA: DATA SHOWS FAVORABLE SAFETY PROFILE FOR MODERNA SHOT: CNBC
  • *FDA MAKES REPORT AVAILABLE AHEAD OF DEC. 17 ADVISORY PANEL
  • *FDA POSTS BRIEFING DOCUMENTS ON MODERNA COVID VACCINE

Metals

 With Strong industrial production number and optimism high for further steel demand iron ore back on the bid overnight new all-time highs in China, From Morgan Stanley “no winter blues for china’s steel production”. Steel rebar in China +2.3% Overnight, Nickel touched 14-month Highs yesterday, Copper +.5% today, Silver +1.7%, Platinum =2% and palladium +1.5% A bit of reflation trade today Cl +.7% even gold higher this morning +1%

Stocks:

 Spoos bid yesterday morning closed lower on Day, SPX has closed lower 4 consecutive days haven’t seem 5 since February. Positive start again this morning Spoos and Nasdaq +.6% Russell +.7% Stoxx +.3% Dax +.6 But Cac little changed and FTSE down on day. Treasuries lower but Bunds steady to higher two narrative running the market for Now negative Brexit issues and positive reflation vaccine optimism in US.  Yesterday 2 bi partisian  relief bills were presented in the senate one with state Aid and one without Let’s hope a dea,l a small deal can be reached by Friday. Winter storm headed to East coast, Nat gas priced this in already, gas down 1.5%

News.

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