Traders appear to be placing new bets on the reflation trade through equity sector bets in energy, basic materials and industrials stocks, based on a set of exchange traded funds. It’s too early to know if this is a sustainable shift, but the change in tone in recent days is too hard to ignore.

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Trump considered bombing Iran last week: NYT
Trump blocks incoming Biden staff on multiple fronts: PLTC
Several US states impose new Covid-19 restrictions: Reuters
Moderna says its coronavirus vaccine is 94.5% effective: CNN
Pfizer to launch pilot delivery program for vaccine in four US states: RTRS
Judy Shelton’s Fed confirmation in doubt as GOP support wanes: MW
Amazon launches online pharmacy: CNBC
US retail sales expected to post 6th monthly gain in today’s Oct report: WSJ
Hungary and Poland block European Union budget: BBC
NY Fed Mfg Index: manufacturing sector growth slowed in November: MSTAR
US stock market (S&P 500) rallies to new record high: