S&P: Price action since the start of November can be seen as a potential broadening top chart pattern. Chart/Levels from Analyst, Nicole Elliott – Investors Chronicle.

 

Trump prepared to wait for trade deal until after US 2020 election Said yesterday in London

President Trump arrived in Britain with a rather long ‘to do’ list. Telling French President Macron that it was ‘’nasty, insulting and disrespectful’’ to call NATO ‘’brain dead’’, attending a Buckingham Palace reception with the leaders of other NATO nations, catching up with PM Boris Johnson at 10 Downing Street in the evening. To cap it all he then said: ‘’In some ways, I like the idea of waiting until after the election for the China deal, but they want to make a deal now and we will see whether or not the deal is going to be right’’.

Yesterday the world’s biggest pension fund, Japan’s 80 trillion-yen (US $737 billion) Government Pension Investment Fund, stopped lending out its shares in overseas firms, reports the Financial Times. These add up to $370 billion and are mainly used by short-sellers to fulfil trading obligations. They report that the decision is part of the fund’s efforts to become an environmental, social and governance-focused investor. Needless to say, company bosses whose shares are under pressure will be delighted by the move.

Financial Markets and Political Commentary

 

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