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First Call December 21, 2020
- S&P futures down ~1.75%, though off worst levels. Nasdaq futures down 1.25%, Russell 2000 futures down 3.25%.
- Adding one new ETF short and holding, for now, GS and MS shorts - see note for plan
- Asian equities mixed overnight with Hong Kong a laggard while China outperformed.
- European markets under pressure with a number of bourses down more than 3%.
- Treasuries are mostly stronger with the curve bull flattening.
- Dollar stronger on the major crosses after coming under some pressure last week, hitting its lowest levels since April 2018.
- Sterling weakness the big story in FX on coronavirus and Brexit concerns.
- Gold down 0.2%.
- WTI crude down 3.5%, well off the lowest levels, after gaining for a seventh straight week last week.