Headlines discussed at LNWM’s Monday morning briefing:
— Democrats gained control of the U.S. Senate and Joe Biden was certified as new U.S. President, making Covid-relief, infrastructure and clean energy programs more likely in 2021.
— U.S. payrolls fell by 140,000 in Dec., the first drop since last April; U.S. unemployment remains at 6.7%.
— U.S. manufacturing is expanding at a surprisingly fast pace, with a key index rising to 60.7 in Dec., the highest level since 2018.
— Yields on U.S. Treasury bonds are climbing (the 10-year rose past 1.1%), on prospect of higher federal spending.
— The U.K. is being especially hard-hit by Covid, with 1 in 30 Londoners infected and London hospitals on the verge of being overwhelmed.
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