Take Five: Not much calm, plenty of storm in store

Reuters - 29/11
Financial markets head into a December laden with uncertainty over geopolitics, global trade and economic growth, particularly in Europe, where France is in the cross-hairs over its budget.
Nov 29 (Reuters) - Financial markets head into a December laden with uncertainty over geopolitics, global trade and economic growth, particularly in Europe, where France is in the cross-hairs over its budget.
U.S. President-elect Donald Trump's pledge to impose steep tariffs on Canada, Mexico and China has jolted markets and upended interest rate and inflation forecasts.
Here's what to look out for in the week ahead, from Kevin Buckland in Tokyo, Ira Iosebashvili in New York and Dhara Ranasinghe, Karin Strohecker and Amanda Cooper in London.

1/ HOLDING ON?

Traders got a taste of what the months ahead may look like. Trump's pledge to slap tariffs on some of the United States' major trading partners has juiced up the dollar even more.
The greenback rose more than 1.5% against the Canadian and Mexican currencies, highlighting sensitivity to Trump-related headlines and uncertainty over his policies.
So, November ends with the biggest monthly fall in the euro since early 2022, the steepest drop in German bond yields this year, the biggest bitcoin surge since February and one of the biggest monthly jumps in U.S. stocks this year.
Now for a volatile December. Trump aside, U.S. and euro area rates are tipped to fall, Japan's could rise. Geopolitics may bring relief (Middle East) and fear (Russia/Ukraine) as well as add political turbulence (France, Germany).
The charts depict the change in select asset prices of Bitcoin, S&P 500, S&P 500 Banks, Mexican peso, and Euro, as percentage move, from Nov. 1, 2024, and the German government bond yield as percentage, from Nov. 1, 2024.

2/ IMPASSE

Tensions escalated in France over Prime Minister Michel Barnier's proposed budget, which contains 60 billion euros in painful tax rises and spending cuts.
Far-right National Rally leader, and coalition partner, Marine Le Pen has threatened to topple th...
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