1. Inflation in the US unexpectedly posted one of the largest monthly declines since 2023.

2. ECB officials say their cycle of rate cuts is most likely over.

The euro could climb back above $1.18 if ECB officials keep alive the discussion of higher interest rates in 2026.

3. While stock enthusiasts have many reasons to be bullish for 2026, equities will have to overcome a series of risks to fulfill their expectations.

These are the biggest worries according to a Deutsche Bank survey.

4. Here are the 2026/2027 consensus earnings growth estimates of Global and EM regions according to IBES.

5. US Department of Defense Memo: “Unleashing US Military Drone Dominance”.

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