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Situational awareness:

  • New Zealand’s central bank stunned markets by cutting rates by 50 basis points and lowering expected policy guidance. (Reuters)
  • In addition to adding Venezuela to its exclusive embargo list for U.S. businesses, the White House is ready to impose sanctions on any international company doing business with Venezuelan President Nicolás Maduro. (Reuters)
  • German industrial production posted the largest annual decline since 2009, driven by an even steeper drop in manufacturing. (Bloomberg)