Financial Markets Update 17 December 2025
Nonfarm Payroll catchup
News Overnight
US Nonfarm Payroll October and November 2025
It’s old and probably inaccurate and no-one cares anyway. Hang on, maybe Powell cares. This is what he needs to justify the rate cut he didn’t want. Government lost jobs and the private sector gained though.
Breaking
Dallas Fed paper argues federal funds rate transmission effectiveness waning [Reuters]
India RBI Adds $5 Billion Via Currency Swap to Boost Liquidity [Bloomberg]
US suspends technology deal with the UK [FT]
Macron Warns EU May Hit China With Tariffs Over Trade Surplus [Bloomberg]
Fannie, Freddie Quietly Add Billions to Mortgage-Bond Portfolios [Bloomberg]
Xi Faces Calls for Stronger Yuan in Rare Public Currency Debate [Bloomberg]
Japan’s manufacturing sector contracts at slower pace in December, PMI shows [Reuters]
China’s escalation dominance over Trump [FT]
For Free Subscribers
US 10 Year Yield Update 17 December 2025
A slew of dovish employment reports, catching up with Nonfarm Payroll after the government shutdown, added to the weak jobs narrative. Old and probably unreliable but sets us up nicely for the December report on the first Friday in January.
OIl Update 17 December 2025
Damn. Price finally capitulates. There’s support where we are now but confirmation below 58.60 should see a steep fall to 46.00 and then 35.00.
For Paid Subscribers
Dow Jones Update 17 December 2025
No confirmation and a break back below the pivot line doesn’t look good for the DJIA. S&P and NASDAQ lower too but subdued price action.
Ethereum Update 17 December 2025
Here’s is one of our favourite plays for 2026. Tokenisation is right here and right now. With zero competition Eth is going to be the only game in town. It’s a trade not an investment.
Economic Indicators Today
