There will certainly be a number of money managers outperforming benchmarks wishing that the year would end abruptly so they could lock in performance. Still, there is much water left to flow under the bridge, so traders need to stay vigilant. There are five weeks to Christmas and six to the New Year, but traders still have to navigate through the lower liquidity and the raft of December event risk. Here we get the ECB meeting (4 December), the second Targeted Long-Term Refinancing Operation (11 December) and the Japanese election (17 December); plenty for macro-focused traders to watch. (VIEW LINK)

David Scutt

Great read for anyone looking for the key global macro drivers as we head towards year-end. Throw in the December FOMC policy decision, including updated economic forecasts and 'dots' chart, along with a raft of important domestic data including Q3 GDP, and we're assured of market volatility as liquidity begins to dry up.