We’ve nearly run out of calendar and so it’s time for The Capital Spectator to put a fork in 2019. We’ll be back on Thursday, Jan. 2 with a new year and fresh numbers to slice and dice. Meantime, all the best for 2020. Cheers!

A clean sweep of higher prices lifted all corners of the global markets for the shortened Christmas week of trading, based on a set of ETFs representing the major asset classes. The holiday rally through Dec. 27 is the latest installment in an extraordinary year that’s on track to deliver gains in everything once 2019’s final trade closes.
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US strikes Iran-backed militia forces in Iraq and Syria: USA Today
Iraqi militia leader vows response to US attacks: Reuters
Trump’s tweets name alleged whisteblower, unleashing new controversey: BBG
Democrats try to undercut Trump’s strong economy message in Iowa: NY Times
US wages rising at fastest pace in over a decade: WSJ
China boosts lending in a risky bid to support small business financing: FT
Japan’s stock market ends 2019 as a top regional performer: CNN
Extreme poverty in the world cut in half over the last decade: Axios
US manufacturing rebound appears to be fading, based on regional Fed indexes:

Following last week’s first installment of notable titles that found their way to The Capital Spectator’s weekly Book Bits column in 2019, here’s the second half of this absurdly subjective short list. Cheers!

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All the major silos of US equity factors are posting solid gains this year, but nothing beats the so-called quality screen (stocks with strong fundamentals), based on a set of exchange traded funds. In close pursuit: large-cap shares.
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Philippines bans 2 US senators, considers restrictions for Americans: Bloomberg
US warns China against coercing Taiwan: SCMP
ECB policymaker: return to positive rates unlikely in 2020: Reuters
Israel’s Netanyahu wins party vote ahead of probable election in March: Reuters
Syria’s advancing army in country’s northwest triggers mass exodus: LA Times
Japan will send destroyer to Middle East for intel gathering: Japan Times
Is the US-China trade war fading? Not for books: NY Times
Amazon reports new highs for holiday sales: WSJ
US jobless claims continue to fall after recent spike: CNBC

Incoming economic reports continue to show that US growth is holding steady at a moderate pace in the fourth quarter. A lot can change between today and Jan. 30, when the government’s initial Q4 GDP report will be published. But the data available today suggests that output will expand at or near Q3’s 2.1% increase.
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US holiday spending rises, thanks to e-commerce at record high: Reuters
China sails new aircraft carrier through Taiwan Strait: Reuters
GOP senator ‘disturbed’ by McConnell’s ‘coordination’ with White House: Politico
Births in Japan fall to lowest level since 1874: NY Times
Long-run secular inflation trend looks set to decline: Vanguard
Richmond Fed Mfg Index: sector activity fell for 2nd month in Nov: RF
Gold is trading above $1500, a seven-week high: Bloomberg

Christmas has come early to the world headquarters of The Capital Spectator, which can only mean one thing: Your editor is slipping out the door to beat the rush and commence the holiday festivities ahead of the crowd. We’ll be back at the grindstone on Thursday, Dec. 26 with a fresh spin on the post-holiday outlook. Meanwhile… Merry Christmas!

Real estate shares in the US and equities in emerging markets topped last week’s returns for the major asset classes, based on a set of exchange-traded funds. The main losers for the trading week through Friday, Dec. 20: foreign bonds.
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