Market Recap 2018/12/19

Oil plunge, to $46, despite recent OPEC decision.

Brexit, uncertainty of no-deal Brexit

GBPFX Vol come off dramatically as investors no longer expect any further Brexit action before Jan 2019

FOMC rate hike

Powell notes the strong fundamentals driving the US economy but acknowledges the recent softness in economic data and higher market vol and general financial tightening. USD treasury curve near flattening as a result. 2s30s -7bps DoD taking 30Y rates lower -5bps DoD

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