Headlines discussed at LNWM’s Monday meeting:
— A tax reform bill narrowly passed the US House of Representatives, with 13 Republicans voting no.
— US new housing starts rose 13.7% in Oct., highest level in a year, on hurricane rebuilding in the South.
— Japan’s economy has grown for 7 quarters in a row (through Sept.), the longest expansion since 2001.
— India’s government debt was upgraded by Moody’s (to Baa2) but remains less than investment-grade.
— Russia agreed to restructure $3.15 billion of debt owed to it by Venezuela, on very favorable terms.
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