- After New Zealand's moderate approach to rate hikes, markets lowered their expectations for monetary policy tightening, sending US treasuries higher. Oil prices swung up & down as producers and key consumers braced for a showdown.
- Stock market signals were weak, with the European benchmark erasing a little gain and US index futures edging down. The yield on the two-year US Treasury note fell two basis points. The dollar rose for the fourth day in a row versus a basket of other currencies.
- Investors are nervous as they face a wall of concerns, ranging from a comeback of covid-19 in Europe to signals of continuing consumer-price increases. With ultra-loose, pandemic-era stimulus poised to be drawn down, policymakers are increasingly focused on lowering inflation. The avalanche of US data expected today, as well as Federal Reserve minutes, might be the next triggers for market movement.
- JMMC members will meet on November 30th, OPEC on December 1st, and OPEC+ on December 2nd - 2 Sources.
- ECB's Panetta: The current inflation rise should be ignored unless evidence of medium-term inflation worries emerges.
- ECB's Panetta: Adverse risks to economic activity may be increasing.
- German Finance Min. Scholz signs a coalition agreement to become Germany's next chancellor.
- The Japanese government will issue bonds worth 22 trillion yen as part of an economic stimulus package - Nikkei
- India is said to be considering permitting crypto trading for select investors. - Sources