The first article updates FHN Financial’s rate projections for 5-yr and 10-yr UST on four different outcomes for Phase 1 of the US/China trade negotiations. They are remarkably similar after the last five weeks of trying to second guess the outcome. The grid forecasts rates for one week after a definitive market assessment of an outcome, including a postponement until 2020. With two overnight repo crunch times on the calendar for December, an important update on what the Fed’s efforts have accomplished and what they’ve left undone. Last, an important look back at financial market performance in November, which despite lower volumes than this week, set the themes for December and January. The next scheduled publication date is December 20.