Bloomberg:
- Europe Caught in Headlights as Populists Hinder ‘Radical’ Change. (video) Votes in Italy and Austria say little about whether populist parties will sweep elections elsewhere in Europe, but they do spell more political paralysis. Both were widely watched as indicators of whether the anti-establishment upsets of Brexit in the U.K. and President-elect Donald Trump in the U.S. will continue through a bumper year of major European elections in 2017. The answer was hardly comforting for investors or centrist parties. Sunday’s defeat of a far-right presidential candidate in Austria and of a constitutional referendum in Italy suggest pressure from the extreme left and right continues to grow, just not as a post-Trump wave of election victories fated to sweep the continent, said Wolfango Piccoli, co-president of consultants Teneo Intelligence. That risks discouraging Europe’s leaders from tackling the fundamental economic reform that might address the root causes of the popular discontentment. “The question isn’t so much whether the populists win -- they are here to stay, they will impact politics,” said Piccoli. “You have to look at each set of local conditions separately.”
- China Regulator Slams Leveraged Stock Acquirers as ‘Robbers’. China’s top securities regulator resorted to unusually harsh language to denounce leveraged acquisitions of shares in listed companies, as officials move to rein in financial risks associated with a surge in dealmaking. China Securities Regulatory Commission Chairman Liu Shiyu also questioned the legitimacy of the funding sources at acquirers that he didn’t identify, saying their behavior challenges the nation’s rules, as well as their own professional ethics. Such acquisitions show “retrogress and decay in humanity and commercial morals, and is by no means financial innovation,” Liu, 55, said. “By using improperly obtained money to conduct leveraged acquisitions, you’ve gone from strangers at the gate, to barbarians and eventually robbers of the industry, ” he said at a meeting of the Asset Management Association of China in Beijing on Saturday, a transcript of which was posted on the regulator’s website. “That’s not allowed.”
- What Happens If Trump Labels China a Manipulator? (video)
- The World's New Fear Gauge Is Ringing Alarm Bells in the Era of Trump. (graph) A key barometer of risk aversion soared after Trump's victory fueled a dollar rally.
- OPEC Target Gets Harder as African Members Boost November Output. OPEC’s mission to implement last week’s historic deal to curb production for the first time in eight years just got a little bit harder after three of its African members increased output in November. Crude production from the Organization of Petroleum Exporting Countries rose to a record 34.16 million barrels a day in November with gains led by Angola, according to a Bloomberg News survey of analysts, oil companies and ship-tracking data. That’s up from a revised 33.96 million barrels a day in October.
- Trump, Gore Meet on Climate After Talks Opened With Ivanka. Donald Trump met in New York Monday with Al Gore to discuss an issue the Republican president-elect has long scoffed at: Global warming. The meeting at Trump Tower was initially scheduled with the president-elect’s daughter, Ivanka Trump. After Gore emerged, the Democratic politician-turned climate activist told reporters he wound up spending "the bulk of the time" with Trump himself.
- Trump Vows Prompt Review of Rejection of Dakota Pipeline. President-elect Donald Trump backs the Dakota Access Pipeline and will review a decision by the Obama administration to deny a permit for the project, a spokesman said. After weeks of protests from Native Americans and environmental activists, the Army Corps of Engineers announced Sunday that it was refusing to let Energy Transfer Partners LP build a section of the project under Lake Oahe in North Dakota and would begin a lengthy environmental review. But that decision runs headlong into the pledge from Trump to greenlight new energy infrastructure. The pipeline "is something we support construction of, and we will review the situation when we are in the White House to make the appropriate determination at that time," Jason Miller, a spokesman for the Trump transition team, told reporters Monday.
- Ford(F) Said to Issue $2.8 Billion in Auto Debt for Tech Spend. Ford Motor Co. plans to issue $2.8 billion in debt, the company’s first automotive borrowing in almost four years, as it boosts spending on self-driving cars, mobility services and electrified vehicles, according to a person familiar with the deal.
Fox News:
Zero Hedge:
- "Fake News" Site Threatens Washington Post With Defamation Suit, Demands Retraction.
- 20 Years Later, Greenspan's "Irrational Exuberance" Has Become Even More Irrational.
- Renzi Delays Resignation Until Senate Passes Budget Law.
- Germany Outraged After Afghan Refugee Arrested In Rape, Murder Of 19 Year Old Female Student.
- Here Are The Biggest "Post-Trump" Market Risks According To Bank of America.
- Forget Italy, Turkey Is The Main Course. (graph)
- Trump Advisor Says Administration Not Looking To "Rip Up NAFTA" Or Impose "Quote-Unquote Tariffs".
- Wall Street Analysts Are Slowly Losing It.
- Deutsche Bank(DB) CEO Warns Employees "Europe Is Endangered" After Italy Vote.
- What Happens Next In Italy: Here Is Goldman's Take.
- OPEC Oil Production Hits New All Time High As Brent Surges To 16 Month High. (graph)
- "The Curve Is Screaming Producer Hedging" - Shale Companies Scramble To Lock In Oil Prices.
- Fed Labor Market Conditions Index Contracts For 5th Straight Month. (graph)
- "Things Have Tapered Off" - US Services Economy Jumps To 13-Month Highs But New Orders Stall. (graph)
- Draghi 'Put' Steadies Stocks As Italian Banking System Collapses. (graph)
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