Morning Update – 28/11/2016 – by Arjun Lakhanpal

Morning all.. Wall St had a decent session and closed at record highs again with the S&P up 0.4% which was impressive given the drop in oil Friday. The Asian session has been mixed with the Nikkei lower as USDJPY fell from 113 to 111.40 on little news but HK and China stocks were higher. US 10yr yields are a touch lower at 2.32% and oil is marginally lower again. Saudi Energy Min: Saudi will not attend Monday 28th talks with non-OPEC producers as there is no agreement within OPEC so far; does not see only one path in OPEC meetings (i.e. cutting production), justifiable to maintain production at current levels..Russian Energy Ministry officials will not attend Nov 28th meeting in Vienna with OPEC experts.. GBP a little higher on Asia open as some suggestion the New US admin is keen to forge a new trade deal with Britain. Sunday Times (no sources cited): BoE’s Carney wants British businesses to retain EU single mkt access for 2 yrs after UK leaves EU; Carney laid out plan last week when hosting dinners with 50 senior investment bankers & finance directors. This morning we have Swedish retail sales, and Italian Consumer confidence data and little else today.. However some month end distortions possible today.. Good luck..