5 thinks to know before the start of today's trading

A breakthrough in US-China talks seems less likely, Brexit is still in focus, diminished trading volumes on US Thanksgiving Day, and failure to agree on Asian leaders' statement.

New Cold War?

Vice President Mike Pence exacerbated US attacks against China during a week of meetings that ended on Sunday. In particular, he urges nations to avoid loans that would leave them indebted to Beijing. Difficult talks raised concern that for the first time since the early 1990s, when the Soviet Union fell, a new cold war began. Pence said the US is in no hurry to put an end to the trade war and will not "change its course until China changes its ways" - an alarming prospect for a region heavily dependent on exports. The summits in Singapore and Papua New Guinea suggest nothing to suggest that US President Donald Trump and his Chinese counterpart Xi Jinping will reach an agreement when they meet in a few weeks at the Group of 20 Summit in Argentina .

No Statement

Asian-Pacific leaders have failed to reach a consensus on the formulation of a communique after a two-day talks in Papua New Guinea, reflecting the increased tension fueled by the US-China trade war. Leaders have never before failed to agree on a statement. The US official, familiar with the talks, said China had given up on some trade-related language.

Markets in Asia

Shares in Asia are trading in mixed moods on Monday as investors remain cautious about new developments in ongoing US-China tensions.

A new dose of energy for the bonds bulls

As US Thanksgiving approaches, bond bulls may be grateful for the geopolitical turbulence and global growth concerns that ultimately could cause the Federal Reserve to stop its policy. Tensions in Europe - from the struggle for the Italian budget to the fight against British Prime Minister Theresa May's deal - strengthen the attractiveness of government securities as a refuge.

Up Next ...

Brexit will continue to rise over pounds and markets this week, as Theresa May's future is hanging. Meanwhile, the governor of Japan Bank Haruhiko Kuroda spoke on Monday at an event in Tokyo with the Bank of France Governor Francois Villeroy de Galhau. In London, Mark Carney, the manager of the Bank of England, appeared before lawmakers on Tuesday. Philip Lowe, Australian Reserve Bank Governor, and Carolyn Wilkins of the Bank of Canada also have statements. New York Fed Chairman John Williams spoke later on Monday.

Source: Bloomberg Finance L.P.

Chart: Used with permission from Bloomberg Finance L.P.

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