#99 Rough Start

Issued by Labis Michalopoulos, CFA

email: labis@quantomental.com

Previous Week:

  • Iran: USA murdered top Iranian Military Commander, Qassem Soleimani, in the airport of Baghdad.
  • France: President Macron vows to carry out his pension reform despite the continued strike.
  • Spain: Coalition government is set to be voted on Sunday.
  • Trilateral summit between China, Japan and South Korea to discuss over North Korea’s nuclear program.The Regional Comprehensive Economic Partnership (RCEP) was included in the agenda. The trade deal, spanning the Asia-Pacific, has an uncertain future. India refused to participate in RCEP, but the remaining 15 members plan to sign the pact in 2020.
  • Australia: The uncontrolled fires continue.
  • Cryptos: Total market cap at $195bn ( +0% ytd, -46% from the 2019 $366bn high, -76% from the all time high $825bn).

Ongoing Theme:

  • Impeachment developments in USA. Manufacturing activity has not bottomed up(EU and UK PMI bellow the 50 threshold and Canadian & US PMI decline).

Next week:

  • Focus on Turkey’s and North Korea’s actions
  • Taiwan general elections on 11 January
  • Iran reaction

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