Featured Market Snapshot
U.S. jobs and the Fed:
The Fed got a perfect set-up, from November's jobs report, for its December decision on boosting its target rate on fed funds. The ECB pondered the meaning of Italy's referendum for its decision on QE, and OPEC set a production cutback – for the first time in years.
Markets and expectations: aligned?
Yellen all but removed the remaining doubt about a rate hike in December – unless something else happens. U.S. wages continued strong; Japan growth came from exports; Europe treaded water.
The story changes, the markets shift
Trump's election victory gave markets a fresh narrative – fiscal largesse and inflation. U.S. stocks liked it, mostly. Bonds and emerging markets, not so much.
October's jobs report lined up with the Fed's view, clearing the way for a well-telegraphed rate hike in December, newer data permitting; U.K. Brexit plot thickens.
Will France follow the UK?
Will France's EU membership fall victim to presidential politics, or merely muddy the waters for the UK? China's producer prices rise, as do US retail sales.
A long wait until the November meeting
Saudi Arabia and Iran come to terms; U.S. and Europe improve; money market mass migration in the U.S., driven by new post-crisis regulations
All investments involve risk, including loss of principal. Past performance is no guarantee of future results. Please see each product’s webpage for specific details regarding investment objective, risks associated with hedge funds, alternative investments and other risks, performance and other important information. Review this information carefully before you make any investment decision.