US small caps and Trump tariffs make the headlines

Markets reacted to the nomination of Scott Bessent as the next US Treasury Secretary on Monday, with the dollar pulling back from two-year highs and US Treasury yields falling. US stocks rose, led by small caps which hit an intraday high, while European markets were mixed. A survey showed a drop in German business confidence and ECB Chief Economist Philip Lane called for gradual interest rate cuts. Other notable developments include UniCredit's attempted takeover of Banco BPM; a potential deal to end the Israel-Hezbollah conflict; and President-elect Trump's plan to impose tariffs on Canada, Mexico, and China. Manuel Villegas, Next Generation Research, says Bitcoin has established itself as a global macro asset this year.

00:00 Introduction by Bernadette Anderko (Investment Writing)

00:24 Markets wrap-up by Mike Rauber (Investment Writing)

06:11 Digital assets: Manuel Villegas (Next Generation Research)

09:38 Closing remarks by Bernadette Anderko (Investment Writing)

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