- Chinese stocks haven’t been so subdued since 1992 as government efforts to maintain stability as well as tightening liquidity deter traders. A gauge of 90-day volatility on the Shanghai Composite Index fell to a 24-year low at the end of December and has barely budged since, while turnover on the nation’s equity exchanges slumped to the lowest in two years last week. The benchmark measure added 0.4 percent to 3,136.78 at the close. China’s markets will be shut for a week-long holiday from Friday.
- Russia overtook Saudi Arabia as China’s top oil supplier last year for the first time ever amid the ongoing battle for market share in the world’s biggest energy market. Russia boosted crude supply to the Asian nation by 24 percent from 2015 to 52.5 million metric tons, or 1.05 million barrels per day, according to data released Monday by the General Administration of Customs. The Middle Eastern kingdom became the second-biggest supplier, shipping 51 million tons, or 1.02 million barrels per day, little changed from a year earlier.
- The MSCI Emerging Markets Currency Index advanced 0.4 percent to the highest level on a closing basis since Nov. 9, the day after the U.S. election.
- European stocks declined, while volatility surged, as Donald Trump ordered the U.S. to withdraw from the Trans-Pacific Partnership trade deal. The Stoxx Europe 600 Index lost 0.4 percent at the close, after retreating as much as 0.7 percent. Banks and energy shares fell the most, while gains in miners tempered the benchmark’s declines. Trump also prepared to sign executive orders to renegotiate the North American Free Trade Agreement, according to an official familiar with the plans.
- Attorneys general from 16 states banded together to join a federal appeals court battle in defense of the 5 1/2-year-old Consumer Financial Protection Bureau, the latest sign of state-level Democrats combining resources to shield former President Barack Obama’s legacy.
- Trump Signs 3 Executive Orders: Withdraws From TPP, Freezes Federal Hiring, Limits Overseas Abortion Funding.
- El-Erian Warns "Investors Are Underestimating Sudden Policy Shifts".
- Options Traders Are Pricing In The 3rd Highest Chance Of A 'Black Swan' Crash In History. (graph)
- Peso Tumbles As Mexican President Warns "Will Take Immediate Actions To Defend Interests... Doesn't Believe In Walls". (graph)
- Aetna's(AET) Takeover Of Humana Blocked As Anticompetitive.
- The Smoothest Transition Ever (For Markets).
- Trump Warns "We Are Going To Be Imposing A Very Major Border Tax", Will "Cut Regulations By 75%".
- Goldman(GS) Warns The Following Assets Are "Most Vulnerable To Substantial Repricing".
- Europe's "VIX" Spikes Most In 4 Months. (graph)
- Carl Icahn Praises Trump Speech: "Our Dangerous Slide Towards Socialism Is Over".
- The Collapse Of The Left's Great Con. (graph)