Asia shares rest at highs, sterling licks wounds
U.S. housing starts were surprisingly strong in November, and building permits rose to the highest level since May 2007. Manufacturing output picked up more than expected as a strike at General Motors Co ended.
The sea change was clear in BofA Global Research’s latest survey of fund managers with recession concerns diving 33 percentage points to a net 68% of investors saying a recession is now unlikely in 2020. Johnson will use the prospect of a Brexit cliff-edge at the end of 2020 to demand the EU give him a comprehensive free trade deal in less than 11 months.
“Johnson’s move aimed at cancelling the possibility of an extension, has essentially increased the possibility of a no deal Brexit,” said Rodrigo Catril, a senior FX strategist at NAB.
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