Week In Review Week Ahead

• China Industrial Production (Nov) • US Retail Sales (Nov) • The Federal Open Market Committee (FOMC) Meeting

Thought Of The Week Another week without compromise on stimulus bill in US The latest weekly initial jobless claims in the US climbed to its highest level since mid-September while continuing claims rose to 5.8 million, above the 5.5 million consensus forecast, after a fresh surge in Covid-19 cases spurred new rounds of shutdowns. The US Congress continues to talk up the need for some sort of rescue package amidst signs of economic weakness but remains divided on the details of the proposed $916 billion fiscal stimulus bill: 1) State and local government budget support 2) Liability protection for businesses. US stocks finished flat this week as investors tried to digest the back-and-forth negotiation since it remains difficult to be meaningfully bearish on this market. On the other hand, the bond market does not seem to be convinced that...