After a week of anticipating turmoil, the markets delivered. First initial euphoria over trade deal between U.S. and China, then things went the opposite direction. The realization no real deal had been agreed and then the arrest of Huawei CFO in Canada. On the same time, appears that Federal Reserve under Powell are folding to President Trump and his pressure. The yield curve inversed, having all talking-heads propagating the imminent recession. In Europe things are not better. Macron is facing massive resistance from demonstrators who believe low and middle class have to shoulder all the future tax increases. Macron just like Powell had to fold as there were risk things would escalate out of hand. On the crypto side, another week, another week of continued decline of the cryptocurrencies. Another hyped sector seem to be living up to the hype. Altria buying a stake in Cannabis maker Cronos. In addition there are rumors Altria looking to take stake in smokeless tobacco maker Juul.  

Corporate wise, companies like Lyft, Modena and Uber are looking to IPO as soon as possible before the market turns properly. Usually the markets tend to get calmer as we approach the holiday season. Question is if that will be the case this year. Mueller probe is getting closer to conclusion. Brexit agreement vote is up in U.K, and trade-war uncertainty could flare up even more.  

Economy, Trade & Fed, Macro

U.S. job growth cools in November, monthly wage gains modest via Reuters

Why isn’t Investment More Sensitive to Interest Rates: Evidence from Surveys by Federal Reserve Board of Washington DC

Cheaper Oil Isn’t the U.S. Boon It Used to Be via WSJ

Does the Yield Curve Really Forecast Recession? By Federal Reserve Bank of St. Louis

What Explains the Trade Deficit Hitting a Decade-High? From WSJ

Tru(c)e Killed by Askbrokers

Huawei CFO’s Arrest Deals a Blow to Xi Jinping’s Drive for China Tech Supremacy via WSJ

Yuan could become next battleground in Trump-Xi ruckus via Asia Times

The Brexit Debacle By Jacobin

Leaked Commons legal analysis of Brexit deal vindicates Trump, contradicts May and adds to Brexiteers’ concerns via BrexitCentral

Italy: Will the New EU ESM Rules Result in Doom for Italy? Via AskBrokers

France’s Latest Protests Are a Rejection of All Things Macron from Slate

‘Gilet jaunes’ movement spreads to France’s truckers, farmers and students via Euronews

Tightened Belts in Mideast Stir Memories of Arab Spring by WSJ

Middle-East: Is War around the corner to solve all Problems? From Askbrokers

Brazil future unclear amid opposing ideologies of ministers by AP

Markets / Companies

The Trump-Xi Truce Questions That Are Leaving Markets Flummoxed via Bloomberg

Yield Curve Inversion by Askbrokers

Cash Is a Star in Rocky Year for Global Markets by WSJ

“Death Cross” Means “Loser” via Price Action Lab Blog

Is The Yield Curve Coming to Kill You? By The Reformed Broker

Major Asset Classes | November 2018 | Performance Review from The Capital Spectator

Carnage in Hedge Fund Land via Askbrokers

Crisis du Jour by The Belle Curve

Why investors in emerging-market bonds are so attuned to political risk by The Economist

The end of industrial conglomerates via Axios

Inside the World’s Most Elite (and Secret) Traders’ Club from Bloomberg

How the Chinese Government Is Helping Google Sell Ads in China via The Information

Google’s “Other Bets” by The Reformed Broker

A new trove of internal Facebook emails is a stark reminder: You are Facebook’s product from Recode

Netflix Is Willing to Pay a Premium for ‘Friends’ by The Ringer

Uber Is Headed for a Crash by NYMag

Lyft files IPO documents with US securities regulator via FT

Moderna IPO Raises Over $600 Million in Rocky Market from WSJ

Altria takes C$2.4bn stake in Canadian pot group Cronos via FT

Volkswagen Says Its Next Generation of Internal Combustion Engines Will Be Its Last via Jalopnik

BT to strip Huawei equipment from its core 4G network from FT

Where Huawei Loses, Nordics Will Gain via WSJ

How to Game the App Store by David Barnard

France plans its own tax on big tech groups from FT

Texas and New Mexico shale basins hold 49 years worth of oil: USGS via Reuters


Crypto Winter Is Here and We Only Have Ourselves to Blame by Coindek

Bitcoin is close to becoming worthless from MarketWatch

‘Smart’ insurance helps poor farmers to cut risk via FT

Research / Interesting Reads

Amazon Alexa is beta testing crowdsourced answers via The Verge

NPR’s Book Concierge Our Guide To 2018’s Great Reads from NPR

What’s Really Happening to Retail? By The Atlantic

‘London Blue’ hacker group targets chief financial officers via FT

Highest-Paid YouTube Stars 2018: Markiplier, Jake Paul, PewDiePie And More via Forbes

What legal sports betting in the United States means for offshore sportsbooks by ESPN

How Japan Is Harnessing IoT Technology To Support Its Aging Population from Forbes