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‘Did you enjoy the unseasonal stock market volatility?’

Not a very December-like stock market was it last week?  With the S&P 500’s worst week since May 2012 and a new closing low for the yield on the 10-year Treasury I am not quite sure where all those 'December is generally a gliding up month' comments are now...

For what it is worth I actually do believe the market may revert to a 'gliding up' notion for the balance of December (even with the upcoming Greek Parliamentary election) but I doubt very much whether it will regain in full the month-to-date losses.

So what have been my highlights of the last week?
 

• US small businesses get back to average confidence levels;
• Worries #1: Shanghai volatility and Greek debt restructuring fears;
• Worries #2: high global P/Es and US dollar distortion fears;
• UK lacklustre real wages mean the Bank of England aren’t acting soon;
• Looking ahead to ’15: history’s OPEC guide & great news for active managers;
• Final thought: the late December Santa Claus rally probably will start soon

Feel free to contact me on any aspect of the above…or anything else in fact.

Chris Bailey                                                                                 
Founder, Financial Orbit

Email: chris.bailey@financialorbit.com
Web: www.financialorbit.com
Twitter: @financial_orbit