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A group of Democrats broke with their party and supported a deal to end the longest-ever US government shutdown. The Senate voted 60-40 on a procedural measure to advance the bill, though it has yet to schedule a vote for final passage. BBG
Democratic lawmakers and liberal grassroots groups erupted Sunday night as moderate Senate Democrats moved to cut a deal with Republicans that would put an end to the government shutdown. Democrats are primarily frustrated that Affordable Care Act tax credits will not be extended. Axios
More than 10,000 flights were delayed or canceled yesterday as a snow storm in Chicago compounded the effect of a third day of government-mandated restrictions. Transportation Secretary Sean Duffy told Fox that flights may “slow to a trickle” during Thanksgiving if the shutdown persists. BBG
Scott Bessent suggested to ABC that Donald Trump’s proposed $2,000 tariff “dividend” may be referring to a decrease in taxes, but he hasn’t spoken about it with the president. BBG
US President Trump called for Senate Republicans to send government money given to health insurance companies and send it directly to the people.
Boeing spokesperson said they recommended to the three operators of the MD-11 freighter that they suspend flight operations, while UPS (UPS) and FedEx (FDX) spokespersons said they made the decision to immediately ground their MD-11 fleets following the Louisville crash.
White House Economic Adviser Hassett said US GDP could be negative in Q4 if the government shutdown drags on.
US Supreme Court allowed the Trump administration to withhold billions in funding for food aid for now. It was separately reported that the Trump admin ordered US states to stop paying full food aid benefits to low-income American families and said that they are "unauthorised".
China added more than a dozen fentanyl precursors to a list of controlled exports to the US, Mexico and Canada, in an apparent move to implement commitments made in a trade deal reached between Xi Jinping and Donald Trump last month. BBG
China has suspended retaliatory port fees on US-linked vessels for one year, following Washington’s pause of similar charges under its “Section 301” investigation targeting the Chinese maritime sector. SCMP
The Bank of Japan’s policy board has signaled that the next interest-rate increase may be coming soon, according to its latest summary of opinions, with members keeping a particular eye on domestic wage trends. WSJ
Japan’s new PM Sanae Takaichi said on Monday she would work on setting a new fiscal target extending through several years to allow more flexible spending, essentially watering down the country's commitment to fiscal consolidation. She also renewed calls for the Bank of Japan to go slow on interest rate hikes, despite signs that most central bank policymakers would prefer to see a resumption of monetary tightening sooner rather than later. RTRS
The ECB’s Luis de Guindos said the current level of euro-zone borrowing costs is appropriate but officials must remain cautious. BBG
Fed survey on Friday noted that policy uncertainty, including trade policy, central bank independence and availability of economic data, was the most frequently cited risk to US financial stability, while AI was added as a top stability concern, and respondents also cited geopolitical risks, inflation, monetary tightening, and higher long-term rates as top salient risks.
Fed’s Williams (voter) said the gap between rich and poor risks a US downturn and suggested that poorer Americans’ mounting problems could be a factor in whether the central bank cuts rates in December, while he sees a balancing act for the December rate meeting, according to FT.
NVIDIA CEO said they have very strong demand in Blackwell chips and asked TSMC (2330 TT) for more wafers to meet strong AI demand, while he stated that business is growing strongly and there will be a shortage of different things, as well as noted said Samsung, SK Hynix, and Micron have scaled up capacity.
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