BETWEEN THE HEDGES: Today's Headlines

Saturday, November 26, 2016

Bloomberg:

In Miami’s Little Havana, Castro’s Death Sparks Celebration. Cuban-Americans took to the streets in Miami Saturday morning as news spread that Fidel Castro, the father of the Cuban revolution and a man who prompted many to flee the island, leaving behind homes and family members, had died at 90. While Havana remained eerily quiet after the announcement of Castro’s death on state media, hundreds had gathered on a stretch of 8th Street in Miami’s Little Havana, banging pots and pans and dancing. Cars rolled slowly through the streets, honking and waving Cuban and American flags. Other celebrations were seen in Cuban-American neighborhoods like Hialeah.

Italian ‘Yes’ Vote Won’t Solve Nation’s Problems, Investor Says. A win for Italy’s Prime Minister Matteo Renzi in next month’s constitutional reform referendum won’t necessarily lead to a straightforward, positive outcome for the nation’s bonds, according to ABN Amro Private Banking. Italian sovereign securities tumbled in the wake of Donald Trump’s surprise victory in the U.S. presidential elections this month, on concern that the nation could be next in line when it comes to anti-establishment movements. The same could happen regardless of the outcome of the Dec. 4 vote.

Dollar Rally Hinges on Fed Moves as Traders Eye Jobs Report Next. The dollar’s rise to the highest level in more than a decade leaves traders looking for clues to the rally’s sustainability with a U.S. jobs report next week looming as the next milestone.

Clinton Recount Plan Draws Sore Loser Jibe From Team Trump. Hillary Clinton’s campaign will participate in vote recounts of Wisconsin, Pennsylvania and Michigan if they take place, drawing a rebuke from Donald Trump’s team that the Democrat is being a “sore loser” and part of a “ridiculous” effort. If Green Party candidate Jill Stein initiates recounts in those states as she intends, the Clinton campaign “will participate in order to ensure the process proceeds in a manner that is fair to all sides,” Clinton campaign lawyer Marc Elias said Saturday in a post on the blogging website Medium.com. He added that he doesn’t expect the action to overturn Trumps election.

Saudis Sink Russia Oil Talks as OPEC Deal Hangs in the Balance. Without an OPEC deal, the International Energy Agency predicts that 2017 will be the fourth consecutive year in which supply runs ahead of demand.

Lego, iPad Drive Record Online Sales on Black Friday, Adobe Says. U.S. consumers spent a record $3.3 billion online on Black Friday, scooping up everything from Lego sets to Apple iPads, according to Adobe Systems Inc. Two-day sales starting on Thanksgiving totaled $5.3 billion, marking an 18 percent increase from a year earlier, Adobe said Saturday in a statement. Spending via mobile devices on Friday increased 33 percent to an all-time high of $1.2 billion.