Highlights:

• Markets have reacted favourably to the prospect of a ‘phase one’ trade deal between the US and China, which would involve a roll-back of tariffs.

• Positive developments on the trade front would come at the right time for the US economy, which has suffered from a deterioration in business confidence and investment.

• The UK will head to the polls on 12 December with polls showing a Conservative lead, but polls have previously underestimated Labour support.

• The Chinese economy slowed to a 6.0% annual growth rate in the September quarter, prompting the central bank to cut the short-term lending rate.

• The Australian economy grew at an annual pace of 1.7% in the September quarter, recording the weakest consumer spending since the GFC.

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