{podcast} Risk assets had a solid session overnight as investors gain further confidence on the prospect of a broad and strong economic recovery, supported by the possible distribution of vaccines before year end and a peaceful US presidential transition. Cyclicals and small-caps are in vogue leading the gains in equity markets while oil has led the charge within the commodity space, gold the notable underperformer. The USD is broadly weaker with commodity linked currencies at the top of the leader board. European equities European equities opened sharply higher embracing yesterday’s news that President Trump had ... (full story)