Financial Markets Update 26 November 2025
Drifting into Thanksgiving
News Overnight
Poor US suggest the consumer is out of luck, input prices are elevated but under control and employment continues to get worse. All of which adds to the narrative of a rate cut on 10 December. These are numbers from September so will the FED join the dots to predict a much worsening economy? It’s the sort of policy mistake they’re prone to making.
Breaking
Italy Wants to Tax Private Gold holdings [Scottsdale Mint]
Grim retail sales data fuels concerns about health of US economy [FT]
Hassett Emerges as Frontrunner in Trump Fed Chair Audition [Bloomberg]
US retail sales growth cools; consumer sentiment sags amid job market worries [Reuters]
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