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Top Economic News

Today's release of the minutes from the last FOMC meeting on Oct 29-30 is expected to underscore that meeting's message that the Fed, after its Oct 30 rate cut, now believes that monetary policy is in a "good place" and that no more rate cuts are therefore necessary unless the outlook substantially deteriorates.

Bloomberg on Tuesday reported in more granular detail on the status of tariff rollbacks in the US/Chinese trade talks. Bloomberg reported that U.S. negotiators are willing, as part of a phase-one trade deal, to scrap the upcoming Dec 15 tariff, roll back the Sep 1 tariff on $110 billion of Chinese goods, and set up a process for rolling back the 25% tariff on the initial $250 billion batch of Chinese goods. 

Senate and House have both passes legislation backing Hong Kong protestors.  They will attempt to reconcile the bills and send it on to the White House.

A new CR that will fund the government through December 20th, is making its way through Congress and on to the White House.  It is largely expected to pass‚Äč.  Getting an omnibus spending deal done by December 20th is another issues as there are only about 12 legislative sessions remaining until Congress is done for the year.

MMT makes an appearance in front of the House Budget Committee.

Israel launces air stikes into Syria.

Over 100 protestors were killed in Iranian unrest.

The US is providing Vietnam a second coast guard cutter for its growing fleet of ships.

Will the United Kingdom be around in 10 years?

Daily Economic Releases

MBA Mortgage Applications -2.2% actual v. 9.6% prior
Fed releases the Minutes from the last FOMC meeting 1300 hrs cst.
Treasury cash management bill ($35b)