With the stock index futures ready to begin the day on new all-time highs, the focus this week will be on trade, FOMC minutes Wednesday, some of the ecodata that’s headed our way, and rates. Optimism continues to surround trade talks, but keep in mind we have a December 15th deadline looming and still no deal. This week, keep an eye on headline news related to progress on the phase 1 trade deal.
Over the weekend we heard from Treasury Secretary Steve Mnuchin and U.S. Trade Representative Robert Lighthizer; they said the two sides have had “constructive discussions” and are in close contact. This week’s ecodata includes e-commerce retail sales, some housing data, leading indicators, and on Wednesday, the FOMC minutes. But rates should be watched closely as well.
Last week the TNX (ten-year yields) failed to get above key resistance up around 2%. The TNX has been stuck between 2% and 1.42% since August – TNX back below 1.6% opens the door up for a possible test of the 2019 low around 1.4%, and with all the focus on rates the ripple effect could be widespread. Stay tuned to the TD Ameritrade Network for coverage of all the breaking news – and the information you crave about the markets you trade.
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