Business

Just days after being appointed to Trump's "Strategic and Policy Forum," JP Morgan CEO, Jamie Dimon, has been named Chairman of Business Roundtable.  Obviously, this is yet another prominent D.C. position for Wall Street just as Trump gets set to take the White House amid promises to "drain the swamp."

Per a press release posted to the Business Roundtable website, Dimon will take over the Chairman position from Doug Oberhelman, the CEO of Caterpillar, and will serve a two-year term that will last through December 21, 2018.

Authored by Gluskin Sheff's David Rosenberg, originally posted op-ed at The Globe and Mail,

When I was on CNBC on Monday afternoon, the discussion was over this stellar stock market performance of the past month, otherwise known as the “Trump Rally.”

http://player.cnbc.com/p/gZWlPC/cnbc_global

Let’s examine it a little closer, if you don’t mind.

As reported in Frontrunning, President-elect Donald Trump will nominate Iowa Governor Terry Branstad as the next U.S. ambassador to China, choosing a longstanding friend of Beijing after rattling the world's second-largest economy by speaking to Taiwan's president. Earlier in Beijing, Foreign Ministry spokesman Lu Kang called Branstad an "old friend" of China when asked about a report on the appointment, although he added Beijing would work with any U.S. ambassador.

Amid social unrest and loss of faith in the nation's currency, India's economy has ground to a halt with its Composite PMI crashing by a record in the last month as demonetization strikes.

However, even more problematic is that Indians have validated 82% of bank notes rendered worthless by PM Modi, dramatically undermining the government’s estimate of unaccounted wealth in the economy. As Bloomberg reports,

While in recent months, the PBOC had tried to mask the real pace of reserve outflows, covering up the accelerated selling of US-denominated assets to defend its rapidly devaluing currency, we noted in October that using more accurate calculations, China's capital outflows are once again surging, having hit $78 billion in September.