A barrel of West Texas Intermediate for January delivery was trading 5 percent higher at $54.07 at 4:41 a.m. ET. The surge comes after non-OPEC countries including Russia pledged to cut output next year, and Saudi Oil Minister Khalid Al-Falih said he was willing to cut the kingdom’s production even more sharply than already promised. Oil analysts are upping their price forecasts for the commodity with $60 a barrel seen as early as this week, and $70 by mid-2017 as U.S. shale production could take up to 12 months to increase output enough to recalibrate the dial. Goldman Sachs Group Inc., however, expects a much quicker response from shale producers, and sees crude at $55 a barrel in the first half of next year.
The yield on benchmark 10-year U.S. Treasuries climbed above 2.5 percent for the first time since October 2014, as traders remain convinced that the Federal Reserve will hike interest rates at this week’s meeting. A Bloomberg survey of economists, meanwhile, suggests the era of negative yields on 10-year German bonds may be over, with not a single respondent expecting the instrument to achieve that level between now and 2018. In China, government debt was caught up in a broad-based selloff overnight.
Christine Lagarde, est jugée à partir ce lundi et jusqu’au 20 décembre par la Cour de justice de la République (CJR) pour « négligence d’une personne dépositaire de l’autorité publique ayant mené au détournement par un tiers de fonds publics ».
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