Market movers today
Focus today will continue on the Brexit talks ahead of tomorrow's EU summit and the US-China trade negotiations after Trump tweeted yesterday that there will soon be 'big announcements' on this after 'very productive conversations'.
In terms of data releases, US CPI core inflation data is due out today. We estimate CPI core rose +0.2% m/m in November in line with the recent trend (2.2% y/y).
CPIF inflation data from Sweden is also due for release. We expect it to fall short of the Riksbank's forecast. We also have a budget vote to look forward to. See the Scandi section for more details.
Selected market news
US equities could not hold on to gains yesterday on the positive trade news. In Asia, however, equities are moving higher again on further trade optimism after the Huawei CFO arrested in Canada was granted bail on Tuesday and Trump said that he would intervene in the case if necessary to ensure a good trade deal , see Bloomberg article, 12 December. Yesterday, there were unconfirmed reports that China would cut US car tariffs from 40% to 15%. This would put US car tariffs in line with tariff rates for other countries, as the general car tariff rate in China was reduced from 25% to 15% on 1 July.
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