Headlines discussed at LNWM’s Monday morning briefing:
— The world’s largest trade deal, know as the Regional Comprehensive Economic Partnership or RCEP, will take effect in January 2022. The agreement includes China, Japan, and Australia, but not the US.
— The Federal Reserve confirmed that it will start tapering its bond purchasing program later this month. Each month purchases will be reduced by $15 billion until they reach zero in around June 2022.
— US businesses with over 100 employees face a January 4th deadline to get employees vaccinated, the Biden Administration announced last Thursday.
— The sum of global capital committed to achieving net-zero greenhouse gas emissions has surged to over $130 trillion, up from $5 trillion in 2019, according to the Glasgow Financial Alliance for Net Zero.
— Non-farm payrolls for October beat estimates by 18%, while the September and August numbers were both revised up by 118k jobs. However, the economy remains 4 million jobs short of pre pandemic levels.
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