This past month was action-packed in terms of news, with headlines running the gamut. Early on in the month, we had a terrorist attack in New York City that tragically killed eight, followed by reports of significant political turmoil emanating from Saudi Arabia. Shortly afterwards, we learned that German Chancellor Angela Merkel was facing difficulties in forming a coalition government, a process that is still continuing. By midmonth, President Trump embarked on a 12-day Asian tour just after nominating a new chief to head the Federal Reserve. Later in the month, we saw yet another relatively sophisticated North Korean missile test, while month-end brought us passage of the US tax bill in both the House and the Senate. In fact, the Senate version got through on Saturday, hours after former National Security Advisor Michael Flynn was indicted in the Russia probe. Prosecutors allege that Mr. Flynn consulted with top Trump transition officials on his contacts with the Russians and then lied about them. Flynn pled guilty to one count of lying to the FBI in exchange for further cooperation with the authorities, so this drama is far from over.
|Monthly Commodity Outlook -December 2017.pdf||2.78 MB|