Bessent: China is reaching ’correct cadence’ to complete promised US soybean purchases

US private payrolls experienced a decline in November, with small businesses shedding jobs, reflecting ongoing challenges in the labor market. This downturn follows a trend of decreasing payrolls, as reported by ADP Research, which indicated an average loss of 13,500 jobs per week in the four weeks leading to November 4.

Treasury Secretary Scott Bessent has expressed a desire for Federal Reserve bank presidents to reside within their respective districts, emphasizing the importance of local engagement in monetary policy decisions. This statement reflects a push for greater accountability and connection between the Fed and the communities it serves.

A recent Swiss poll has revealed strong opposition among voters to a proposed trade deal with the United States, indicating significant public discontent regarding international trade agreements. This sentiment reflects broader concerns about the implications of such deals on local economies and industries.

US private payrolls unexpectedly declined by 32,000 jobs in November, following an upwardly revised increase of 47,000 jobs in October, according to the ADP employment report. This decline contrasts with economists' expectations of a 10,000 job increase for November, highlighting a potential slowdown in the job market.

The European Union (EU) is taking steps to enhance its defenses against economic threats, particularly in light of recent export restrictions imposed by China. This initiative reflects the EU's growing concerns about its reliance on Chinese imports and aims to bolster its economic resilience in a shifting global landscape.

US import prices remained unexpectedly flat in September, indicating a pause in inflationary pressures on imported goods. This stability comes amidst fluctuating market conditions and evolving economic indicators.

In November, US private employers reduced their workforce by 32,000 jobs, indicating a significant contraction in the labor market, particularly among small businesses. This decline follows a trend of decreasing payrolls, as highlighted by recent data showing an average loss of 13,500 jobs per week in early November.

Cerberus Capital Management has appointed Nathaniel Fick, a former US ambassador, to the newly established position of chief strategy officer for equities, aiming to enhance its investments related to national and economic security.