And we have 2bn people voting in 2024 - biggest ever democratic year
German budget issues, France's rating in check next week, Dublin, Dutch election, Finland and Spain.... pretty hectic week in Europe, most countries are having their political consensus tested! ... and most are in a pretty weak fiscal stance, cant spend spend anymore, choices have to be made
Taiwan's opposition parties, which seek closer China ties, registered separate presidential candidates on Friday after a dramatic split, potentially easing the way for the ruling party, which has defied Beijing's pressure, to stay in power
New Zealand gets two deputy PMs after marathon coalition talks,
Spain’s Left-Wing Government Faces Internal Splits — and a Trumpian Opposition
Finland warns Russia it is prepared to shut all border points over migrant pressure
The borrowing restrictions known as the “debt brake” are baked into Germany’s constitution but can be temporarily set aside in the case of natural disasters or emergencies beyond the control of the govt
JPN inflation came in at 2.9% YoY in October, slightly lower than the 3% expected
UK Families £1,900 worse off by the next election despite Hunt’s giveaways
BOE's Pill: We cannot afford to ease off tight monetary policy
Markets :
GOLD : has actually been best safe heaven for a while, and less volatile than 10y UST's, but can we break above $2k properly ? see video below if you want to feel very bullish !
FXland, CROSSJPY's essentially firmer, with a hint of GBP strength, as economic data comes in a little better than expected (from low market expectations!)
UST's a little softer, yields back up, 10's UST yields held 4.35 key level, and 4.47 again
Equity markets enjoying their Thanksgiving
Germany’s debt-brake drama is poison for Deutschland Inc and for Europe’s monetary union (telegraph.co.uk)
Tavi Costa: Gold is About to Explode Higher Through a Triple Top - Palisades Gold Radio (palisadesradio.ca)
and Jeremy told everyone they were cutting taxes..
New Zealand gets two deputy PMs after marathon coalition talks | New Zealand politics | The Guardian
Mohamed A. El-Erian on X: "From @martinwolf_ ‘s column in the @FT. The bottom line is that the fiscal position of too many countries is not well positioned for the end of the “low for long” regime for global interest rates. This results in a further loss of policy flexibility at a time when monetary policy… https://t.co/Iu5sdcxXrS" / X (twitter.com)
Quite, fiscally trapped, tough decision required going forward, Germany just showed how hard it is going to be (can always break the rules of course..
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