Weekly Financial Market Update December 7, 2018
December 10, 2018
Stocks began December on a positive note following the agreement between the U.S. and China to hold off on implementing additional tariffs for 90 days in order to provide time for trade talks to continue. Enthusiasm for the trade agreement quickly faded as few details from China fueled suspicions that the deal contained less than advertised.
Relations between the U.S. and China became more strained after Canada complied with a request from the U.S. to arrest the chief financial officer of one of China’s most prominent technology companies, Huawei Technologies, for allegedly violating Iran sanctions. The arrest is a particularly sensitive issue for China because the executive is also the daughter of Huawei’s chairman, who has ties to Chinese President Xi Jinping.
In addition, we share an announcement from the Organization of the Petroleum Exporting Countries (OPEC) and an update on the U.S. Treasury yield curve in our Weekly Financial Market Update