Asia

• Futures rise for third day in a row (Reuters); Banks Lead Stock Rally as Bonds Gain With Hopes Pinned on Draghi (BBG)
• Monte dei Paschi bolsters European stocks, ECB looms (Reuters)
• Finding Risk in All the Wrong Places as Trump Era Begins (BBG)
• Goldman Tells Stock Pickers to Rejoice as Correlations Decline (BBG)
• Trump’s ‘Wall’ at Mexico Border Vanishing as GOP Lawmakers Bolt (BBG)
• AT&T CEO: Time Warner Deal Would ‘Disrupt’ Cable TV Model (WSJ)
• Americans Are Paying Apple Millions To Shelter Overseas Profits (BBG)

In what may be the latest example of unintended irony, shortly after the October 7 pound sterling flash crash, which saw the UK currency plunge by more than 9% against the dollar, falling from $1.26 to $1.14, in about 40 seconds - a historic flash crash in one of the world's most liquid currencies - we presented a forensic explanation of what happened in that minute when sterling plummeted in a bidless market from Citigroup. 

Submitted by Daniel Cloud

“Donald Trump is either too incompetent to understand that his foolish phone call threatens our national security, or he’s doing it deliberately because he reportedly wants to build hotels in Taiwan to pad his own pockets.”

       - (Democratic National Committee Spokesperson)

There’s a lot to be worried about going into 2017 both in terms of financial markets and in terms of geopolitical concerns.

European and Asian markets rose, while U.S. index futures were little changed, with the Dow Jones Industrial Average pushing for yet another record, as traders digested the Italian referendum news, await the ECB's Thursday announcement and reflect in a notably quieter overnight session.  Oil slipped from a 16-month high after 4 straight days of gains, as doubts emerged about how OPEC will implement the first supply curbs in eight years. European bonds gained with stocks.