November was unusually kind to risk assets, delivering another clean sweep of gains. For a third month this year, all the major asset classes rallied. From the smallest of fractional increases in cash (a gain of one basis point) up to the dramatic 15%-plus rally in stocks in foreign developed markets, a bullish wave lifted all boats last month — again, following across-the-board increases in May and July.
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Moderna requests approval for its Covid-19 vaccine: WSJ
Biden chooses liberal-minded economic team: AP
Fed Chairman Powell: economic outlook ‘extraordinarily uncertain’: CNBC
China’s Nov mfg activity rose to highest level in a decade: IHSM
Eurozone Mfg PMI held on to moderate gain in Nov: IHSM
UK mfg survey data show sector activity strengthened in Nov: IHSM
Exxon Mobil will sharply cut exploration and production spending: NYT
Chicago PMI: business conditions slowed in Nov: MW
Dallas Fed Mfg Index: sector growth slowed sharply in Nov: MSTAR
US pending home sales fell for a second month in Oct: BBG