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Week of December 9th – 13th

  • The labor report was huge
  • Not surprisingly the UMichigan Consumer Sentiment Index came better than expected.
  • According to GS, buybacks and foreing investors will be the main buyers of equity in 2020
  • Argentina announced a collection of new measures: new export retentions, taxes on credit cards, double indemnity if fired in the next 180days. We will study and comment on monday
  • The Federal Reserve left rates alone, Congress kept the government open, and impeachment loomed. After a slow half-week, stocks rallied on Thursday when President Trump said a China trade deal was imminent. On Friday, China agreed, but offered few details, and stocks sagged, then firmed. On the week, the Dow Jones Industrial Average rose 0.4%, to 28,135.38; the S&P 500 advanced 0.7%, to 3168.80; and the Nasdaq Composite soared 0.9%, to 8734.88. Also CPI and PPI in line (PPI slightly lower)
  • UK Election. Johnson’s emphatic victory redraws the U.K.’s political map and gives him a mandate to pull out of the EU next month. His Conservatives won the biggest majority since 1987 as long-time Labour supporters in Brexit-backing areas switched allegiance. With all but one constituency declared, the Tories had won 364 of 650 seats, a gain of 47, to Labour’s 203 seats, a drop of 59.
  • Mexico does more trade with US than Canada. AMLO is the new Latam boss. We believe that this is very important for the region.
  • Wall Street Predictions for 2020.
    1. The Fed
    2. Econ Rebound
    3. Liquidity 
    4. Lack of investors participation
    5. Valuations
    6. Public vs Private
  • China Deal Done!
  • Zoom Transition (spanish)