Weekly research notes covering the full spectrum of asset classes

Market Commentary – 29.11.2017

November 29, 2017 / admin

Consumer confidence increased this month, defying Wall Street expectations for a downturn, driven by optimism about tax cuts amid the backdrop of an ever-tightening labour market and solid underlying fundamentals, such as low inflation and low interest rates.

  • North Korea on Wednesday claimed the successful launch of a new advance ballistic missile that it said placed the entire US within range.
  • A prolonged bull market across stocks, bonds and credit has left a measure of average valuation at the highest since 1900, a condition that at some point is going to translate into pain for investors, according to Goldman Sachs Group Inc.
  • Société Générale will close 15 percent of its branch network and cut up to 900 jobs in France by 2020 as the bank looks to cut costs and accelerate its move into digital banking.
  • British banks could withstand the impact of a hard Brexit, the Bank of England said, but it has asked them to put aside an extra six billion pounds in capital to guard against other macroeconomic risks.
  • The OECD cautioned investors that asset prices have gotten too high for a global economy that is set to peak next year and a market downturn could put the expansion at risk.