I'm already deeply indebted to the super-smart Dion Rabouin for many of the insights driving this uncommonly markets-heavy edition of Edge. Dion will be writing a daily markets newsletter for Axios starting in early January; sign up here.

Elsewhere: Nike earnings rose 30%, year-on-year, in China. Snap stock hits another all-time low. Blythe Masters is no longer CEO at her blockchain startup. Oslo is abolishing city-center parking. An improbable millennial budget.