Handoff to Emerging Markets

Keith Schneider | December 15, 2019

Equity markets blasted higher this week with virtually all global equities joining the party.  Markets loved the good employment report in the US (unemployment levels at 3.5%) and of course a truce in the trade war with China. The excellent reception of the IPO of ARAMCO did not hurt either. The $2 trillion dollar valuation seems lofty considering the longer-term outlook for oil. The recent attack on Saudi refineries is another concern, although secret talks

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