Category: News
El papa nombra nuevo arzobispo de Westminster en cambio generacional de la jerarquía angloparlante
Por NICOLE WINFIELD
ROMA (AP) — El papa León XIV nombró el viernes a un nuevo arzobispo de Westminster en otro nombramiento que señala un cambio generacional en la jerarquía católica de habla inglesa.
El papa eligió al obispo Richard Moth, de 67 años, para reemplazar al cardenal Vincent Nichols, de 80, quien se retira como arzobispo con sede en Londres de la diócesis británica más grande en términos de población católica y sacerdotes.
El nombramiento se produjo un día después de que el pontífice nombrara al obispo Ronald Hicks, de 58 años, para suceder al cardenal Timothy Dolan, quien se retira como arzobispo de Nueva York, una de las arquidiócesis más grandes e importantes de Estados Unidos.
Dolan y Nichols habían sido dos de los cardenales de habla inglesa más influyentes durante más de una década, ambos nombrados para sus puestos en 2009 por el papa Benedicto XVI.
Nichols se asociaría más estrechamente con el papa Francisco, quien lo nombró cardenal en 2014 y lo mantuvo en el cargo mucho más allá de la edad normal de jubilación para los obispos, que es de 75 años.
Dolan, quien está más afiliado al ala conservadora de la Iglesia, había presentado su renuncia a Francisco en febrero, como lo exige la ley de la Iglesia cuando cumplió 75 años. León la aceptó 10 meses después, poco después de que Dolan finalizara la creación de un fondo de liquidación de 300 millones de dólares para las víctimas de abuso sexual por parte del clero.
El papa ha indicado que quiere respetar más rigurosamente la norma de jubilación a los 75 años en el futuro, como una forma de revitalizar el liderazgo de la Iglesia, aunque permitió que aún se puedan otorgar extensiones de dos años para los cardenales.
El pontífice hizo los comentarios el mes pasado en un discurso a los obispos italianos, diciendo que la Iglesia tiene que “renovarse constantemente” para enfrentar los desafíos de hoy. “Debemos evitar que la inercia frene el cambio necesario, incluso con buenas intenciones”, dijo el 25 de noviembre.
Moth nació en Chingola, Zambia, y ha servido como obispo de Arundel y Brighton desde 2015. Antes de eso, fue obispo de las fuerzas armadas británicas.
Asume el cargo en la Catedral de Westminster, que se considera la Iglesia madre para los católicos en Inglaterra y Gales.
En otro nombramiento anunciado el viernes, el papa aceptó la renuncia del obispo Gerald Barbarito, de 75 años, como obispo de Palm Beach, Florida, y nombró como su reemplazo al reverendo Manuel de Jesús Rodríguez, actualmente párroco de la iglesia Nuestra Señora de los Dolores en el distrito de Queens en la ciudad de Nueva York.
Con 17.000 feligreses en el barrio mayoritariamente hispano de Corona, la iglesia es la parroquia más grande de la Diócesis de Brooklyn, que también supervisa iglesias en Queens. Fue particularmente afectada durante el COVID-19, perdiendo a más de 100 de sus feligreses.
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La cobertura de temas religiosos de la Associated Press cuenta con apoyo de The Conversation US, con fondos de la Lilly Endowment Inc. La AP es la única responsable del contenido.
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Esta historia fue traducida del inglés por un editor de AP con ayuda de una herramienta de inteligencia artificial generativa.
Futures Rise Ahead Of Record $7 Trillion Opex, Yen Tumbles After BOJ Rate Hike
Futures Rise Ahead Of Record $7 Trillion Opex, Yen Tumbles After BOJ Rate Hike
Stocks look set toclose out a choppy week on a steady note, building on Thursday’s gains, spurred by cooler inflation that backs the case for lower borrowing costs. As of 8:00am, S&P 500 futures were 0.1% higher while Nasdaq 100 contracts were up 0.2% after the WSJ reported that OpenAI is set to raise $100BN in fresh capital (from sov wealth funds) removing near-term funding pressures across the AI sector. In premarket trading Oracle is up 6%, off session highs, with the rest of the Mag 7 complex mostly higher. In a risk-on set-up, bitcoin is also higher, while Treasuries are down. Gold is hovering near its highest ever, and a separate Goldman team reckons its record-setting rally still has legs, and could push the yellow metal above $5000. US economic calendar includes November existing home sales, December University of Michigan sentiment (10am), and Kansas City Fed services activity (11am). Fed’s Williams is scheduled to appear on CNBC at 8:30am.
In premarket trading, Mag 7 stocks are mostly higher (Nvidia +1%, Tesla +1%, Amazon +0.4%, Alphabet (GOOGL) +0.2%, Microsoft +0.1%, Apple -0.2%, Meta Platforms -0.1%). Cloud infrastructure stocks including CoreWeave (CRWV) are staging a rebound after the sector sold off on financing concerns in the AI supply chain. CoreWeave climbs 5%.
AGCO (AGCO) slips 1% after Barclays cut the recommendation on the agriculture equipment company to underweight, saying that tariffs threaten its ability to meet margin estimates.
Defense stocks remain in focus after European Union leaders reached an agreement to loan Ukraine €90b ($105b) for the next two years, aiming to strengthen Kyiv’s hand at the negotiating table and keep the war-torn country afloat.
KB Home (KBH) falls 5% after the company’s fiscal fourth-quarter profit missed analysts’ estimates. The mid-point of the outlook range for fiscal 2026 housing revenue also lagged expectations
Nike (NKE) slumps 11% after the sportswear retailer’s third-quarter guidance disappointed investors, with its turnaround hampered by weak sales in China and the Converse brand.
Oracle (ORCL) is 5.6% higher after TikTok told employees that its parent company, ByteDance, had signed binding agreements to create a US joint venture majority owned by American investors, led by the cloud computing giant.
WhiteFiber (WYFI) gains 20% following the announcement of a 10-year co-location agreement between its subsidiary Enovum Data Centers Corp. and Nscale Global Holdings.
As noted yesterday, individual stock prices could be erratic on Friday during the largest options expiry day ever, with $7.1 trillion of notional open interest rolling off across the US options market, according to data from Citigroup. Trading volumes may be inflated by index rebalances at the close.
The December opex tomorrow will be the largest ever with over $7.1 trillion of notional options exposure expiring, including $5.0 trillion of SPX options and $880 billion notional of single stock options. pic.twitter.com/amb3HDbcwX
— zerohedge (@zerohedge) December 18, 2025
Oracle, which in recent months emerged as a fulcrum point of concerns that the AI rally had become overheated, rose more than 5% in premarket trading. The company is leading a group of investors that signed binding agreements to bring TikTok’s US operations under an American-controlled venture. It would also be a direct beneciciary of OpenAI tapping Abu Dhabi sovereign wealth funds.
Stocks have swung in recent weeks as optimism over the outlook for Fed rate cuts and a robust economy have clashed with fears that the AI-driven rally is vulnerable to a correction. Some strategists warn that while the broader backdrop remains favorable, volatility may persist. “While the conditions for a Santa rally are broadly in place, markets may need a fresh catalyst,” said Francisco Simón, European head of strategy at Santander Asset Management. “In that context, a renewed positive trigger — potentially linked to encouraging news in the AI space — could help reignite momentum.”
Global stocks that rose higher than ever in 2025 are set for further gains next year, according to Goldman Sachs strategists; but don’t expect returns to be quite as strong. Company earnings should drive dollar returns of 13% from a broadening bull market in 2026, rising to 15% if you include dividends, according to a Goldman team led by Peter Oppenheimer. Fed rate cuts and positive growth should extend the economic cycle and support risk assets, though the rally’s next phase may be choppier.
Still, investors are showing little sign of losing their appetite for equities, with the US seeing a 14th week of inflows, at $77.9 billion, in the week ended Dec. 17, according to Bank of America. Tech contributed to inflows for the first time in three weeks, suggesting that fears over potentially overblown AI stock valuations have diminished. Michael Hartnett said investors are positioned for “run-it-hot” acceleration in PMIs and EPS on easing rates, drops in tariffs and tax cuts (more on that later).
At the same time, gold is hovering near its highest ever, and a separate Goldman team reckons its record-setting rally still has legs. Commodities analysts including Daan Struyven and Samantha Dart also forecast weakness in oil prices to persist next year.
In the biggest central bank decision overnight, the BOJ lifted its key rate to the highest level in more than three decades – as expected – and signaled that further hikes could be in the offing. Japan’s 10-year yield climbed to the highest level since 1999, with the BOJ making clear that the tightening cycle will continue if the economy performs as expected.
“The market had expected a hawkish hike from the BOJ, with the expectation of clarifying its stance on narrowing the neutral rate range and future rate hike path,” ING Bank’s Min Joo Kang and Chris Turner wrote in a note. “However, both the BOJ and Ueda remained quite vague on this matter, which likely caused disappointment in the market.”
European equities tread water, with the Stoxx 600 flat despite solid gains in Asia, including a 1% advance in the Nikkei. European markets hover near a record on Friday, as optimism around further monetary policy easing buoyed sentiment in the final full trading week of the year. Utilities stocks outperform while consumer stocks lag after US peer Nike warned of weak China sales. Here are some of the biggest movers on Friday:
Semapa shares rises as much as 25%, the most in more than three years, after the Portuguese conglomerate agreed to sell its cement unit Secil to Spain’s Cementos Molins.
DCC shares climb as much as 4%, the most since October, after the company said it successfully completed a £600 million tender offer.
Puma shares dip as much as 3.5%, leading sportswear stocks lower, after US giant Nike warned sales will decline this quarter, partly due to weakness in China and its Converse brand.
WH Smith shares drop as much as 6.2% after pretax profit guidance for 2026 came in below analysts’ expectations and the the travel retailer said it was under investigation in the UK over an accounting error in its North American business.
Ipsen shares fall as much as 3.8% after the company said a mid-stage trial evaluating its experimental oral drug for an ultra-rare bone disease did not meet its primary endpoint.
Computacenter shares tumble as much as 1.5% after the IT company was downgraded at Peel Hunt, with analysts saying the current valuation already bakes in much of the upside potential over the next 12 months.
Earlier in the session, Asian equities rose, paring weekly losses, as cooling US inflation data reinforced bets on Federal Reserve interest-rate cuts and lifted technology stocks. The MSCI Asia Pacific Index rose as much as 0.8% on Friday, on course for its biggest gain since Dec. 12, as markets across the region advanced. Tencent Holdings, SoftBank Group Corp. and Toyota Motor Corp. led the gains. For the week, the gauge was down 1.9%, marking its worst five-day period in a month. Meanwhile, the Bank of Japan hiked borrowing costs to 0.75%, the highest level since 1995, as expected. Stocks rose.
In FX, the yen slid to the bottom of the G-10, with dollar-yen at 157, as the BOJ’s 25-bps rate hike and Ueda’s presser failed to deliver the stronger tightening message traders expected. The Bloomberg Dollar index is up 0.2%.
Rates follow Japan, where the 10-year yield broke above 2% for the first time since 1999. US 10-year rates climb 3bps with the curve bear steepening, while gilts lag bunds after the BOE’s hawkish cut. US yields cheaper by 1.5bp to 3bp across the curve in a bear steepening move, with 2s10s and 5s30s spreads wider by 1.2bp and 1bp on the day. US 10-year yields trade up to around 4.15%, with bunds and gilts cheaper by an additional 1.5bp and 2bp in the sector. Elsewhere, French 30-year yields hit their highest level since 2009 after budget talks were pushed into 2026. There were more losses seen across bunds and gilts after a flood of European data which included France and Germany PPIs and UK retail sales
In commodities, oil climbs on reports that Ukraine has hit a Russian shadow fleet oil tanker. Spot gold falls roughly $6 to near $4,327/oz. Silver climbs 0.8% to ~$66. Bitcoin ekes out more gains, up some 3.2% to around $88,000.
US economic calendar includes November existing home sales, December University of Michigan sentiment (10am), and Kansas City Fed services activity (11am). Fed’s Williams is scheduled to appear on CNBC at 8:30am
Market Snapshot
S&P 500 mini +0.3%
Nasdaq 100 mini +0.5%
Russell 2000 mini +0.3%
Stoxx Europe 600 +0.1%
DAX +0.2%
CAC 40 +0.1%
10-year Treasury yield +2 basis points at 4.14%
VIX -0.7 points at 16.17
Bloomberg Dollar Index +0.2% at 1209.44
euro little changed at $1.1715
WTI crude -0.6% at $55.84/barrel
Top Overnight News
What will 2026 bring? Goldman economists expect another year of 2.8% growth, above the Bloomberg consensus of 2.5% and with individual forecasts that are at or above consensus for most major economies. As has typically been the case since the pandemic, the bank is most optimistic (relative to consensus) in the US. Growth is likely to average 2.6% in 2026, well above the consensus of 2.0% and up from an estimated 2.1% in 2025. Just under 0.2pp of the pickup reflects the mechanical impact of the government shutdown, which depresses the level of GDP in 2025 Q4 and boosts 2026 Q1 growth. GS also expects a fundamental acceleration because of three forces: Reduced tariff drag, tax cuts, and easier financial conditions.
Homeland Security Secretary Noem said at President Trump’s direction, she is immediately directing the USCIS to pause the DV1 program.
Trump to make an announcement at 13:00ET on Friday and deliver remarks on the economy at 21:00ET.
OpenAI is seeking up to $100 billion in new funding at a valuation as high as $830 billion, above earlier estimates. WSJ
Trump’s administration has launched a review that could result in the first shipments to China of Nvidia’s second-most powerful AI chips. Trump this month said he would allow sales of Nvidia’s H200 chips to China, with the U.S. government collecting a 25% fee, and that the sales would help keep U.S. firms ahead of Chinese chipmakers by cutting demand for Chinese chips. RTRS
The BOJ raised its benchmark rate to 0.75%, the highest in 30 years, and said more increases are in the pipeline if conditions allow. Former BOJ official Kazuo Momma said rates may hit 1.5% in 2027. Ten-year JGB touched their highest since 1999, and the yen weakened. BBG
UK government borrowing fell in November, with the budget deficit standing at £11.7 billion — £1.9 billion less than a year earlier. Separately, retail sales fell for a second straight month. BBG
EU leaders committed to lend Ukraine 90 billion euros, or around $105 billion, to help the country keep fighting Moscow’s invasion but failed to agree on a plan to use frozen Russian assets for the loan. WSJ
Americans seeking jobs face another tough year in 2026, with unemployment staying high despite solid growth, according to economists’ predictions. The unusual mix probably reflects AI-driven investment that isn’t adding jobs. BBG
The world is awash with oil, and prices are poised to keep falling. Producers are ramping up output, putting a record 1.3 billion barrels in open seas. The glut may push average WTI down to $52 next year. BBG
TikTok’s long-delayed split from ByteDance is underway, with the company saying it signed binding deals to form a US joint venture controlled by American investors led by Oracle. ORCL +475bps premkt. BBG
Nike shares slumped premarket (-10.5% premkt) after the company projected a sales decline this quarter amid persistent weakness in China and at its Converse brand. BBG
BOJ
BoJ raised rates by 25bps to 0.75%, as expected, with the decision unanimous, while it stated interest rates are expected to remain at significantly low levels and will continue to raise policy rate if the economy and prices move in line with forecasts.
BoJ Governor Ueda (post-policy press conference) said Japan’s economy is recovering moderately, albeit with some weakness. Will make a decision on rate hike after checking the impact on the economy. Will conduct market operations swiftly, under exceptional circumstances in market. Delaying a rate hike could force a significant hike later. There is still some distance to lower the limit of neutral rate estimate. Several BoJ members mentioned that recent JPY weakness may affect prices going forward, and warrants attention. Members suggested that the weak JPY is possibly affecting underlying inflation.
Japanese Economy Minister Kiuchi said they respect the BoJ’s decision but they need to be mindful of economic outlook.
Japanese Economy Minister Kiuchi said FX is affected by various factors, determined at markets. Important for currencies to move in stable manner reflecting fundamentals. Closely watching market moves with a high sense of urgency, including long-term yields.
Other Central Banks
BoE Governor Bailey said he is confident that inflation will be close to target by late spring, giving a good reason to expect a bit more downward path on rates.
ECB’s Escriva says there are no reasons for any change in interest rates in any direction.
ECB’s Sleijpen says policy is in a good place but we must maintain a data-dependent and meeting-by-meeting approach.
ECB’s Muller said it is too early to speculate what will happen in six months, imagines a scenario that weaker growth and further disinflation could justify more easing but the opposite could also be imagined, via Econostream.
ECB’s Kocher said they have not decided what course to take on rates, when asked if there are no more rate cuts coming. Rates could be cut or raised, depending on developments.
ECB’s Rehn said outlook for growth and inflation remains highly uncertain due to trade war and geopolitical tensions. Reiterates meeting-by-meeting approach and ECB maintains full freedom of action and optionality.
ECB’s Kocher said there are many risks to growth and inflation to the up and downside. said they want to keep all options open to be able to react to the volatile situation. They are where they want to be on rates.
ECB Wage tracker suggests lower wage growth and gradual normalisation of negotiated wage pressures in 2026. ECB wage tracker with unsmoothed one-off payments at 3.0% in 2025 and 2.7% in 2026.
Trade/Tariffs
US President Trump told NBC “We’re making so much money with tariffs”, people would start getting the payments “very soon”. “Within the next few days, it’ll all be out”.
US President Trump administration initiated multi-agency review of NVIDIA (NVDA) H200 licenses for sales to China, according to sources cited by Reuters.
China’s Commerce Ministry urges India to correct wrong practice on Telecom tariffs. China files WTO case against India over ICT tariffs and Photovoltaic subsidies.
China’s Commerce Ministry has launched an investigation into some rubber products from the US, South Korea and the EU. Adds to keep anti-dumping duty rate of up to 222%. Will terminate anti-dumping measures against UK rubber imports from December 20th.
EU’s von der Leyen said “we have reached out to our Mercosur partners and agreed to postpone slightly the signature”, adds she is confident EU has sufficient majority to approve the Mercosur trade deal.
French President Macron said work must continue on EU-Mercosur deal after delay, adds safeguards clause must be adopted by EU Parliament and accepted by Mercosur nations. He said, with new safeguard and mirror clauses to be implemented in January, it would be a “new” Mercosur-EU deal. France asked for CAP budget to be maintained.
Chinese auto parts company Wangxiang agrees to pay USD 53mln to resolve US Justice Department lawsuit over imported components.
A more detailed look at global markets courtesy of Newsquawk
APAC stocks were mostly higher as the region took impetus from the positive handover from Wall Street, where the major indices gained following softer CPI data and strong Micron earnings, while the attention overnight turned to the BoJ, which unsurprisingly hiked rates for the first time since January. ASX 200 was underpinned by outperformance in tech and financials, but with gains capped as mining, resources and materials sat at the other end of the spectrum. Nikkei 225 rallied amid tech strength and with some banks supported as yields gained amid the widely-expected BoJ rate hike, in which the central bank raised its key rate by 25bps to 0.75%, which is the highest in 30 years. Hang Seng and Shanghai Comp conformed to the upbeat mood amid tech strength, and after the PBoC continued to opt for a double-pronged liquidity operation, while it was also reported that TikTok signed a deal to sell its US entity to a joint venture controlled by American investors.
Top Asian News
Japanese Finance Minister Katayama said will consider fiscal sustainability to some extent in compiling next fiscal year’s budget, adds aim to boost market confidence by lowering debt to GDP ratio.
European bourses (STOXX 600 U/C) opened around the unchanged mark, and have remained on either side of the mark since. European sectors hold a slight positive bias. Autos leads, followed by Insurance whilst Consumer Products lags; the latter pressured in tandem with post-earning losses in Nike (-10.5%).
Top European News
Bundesbank cuts growth forecast for 2026 to 0.6% (prev. 0.7%) and raises 2026 inflation forecast for Germany to 2.2% (prev. 1.5%). Nagel: “Starting in the second quarter of 2026, economic growth will strengthen markedly, driven mainly by government spending and a resurgence in exports.” and adds that “….while progress will be subdued initially, it will then slowly pick up.”.
French Prime Minister Lecornu said parliament will be unable to vote on a budget for France before the end of the year. Starting on Monday, he will meet with key political leaders to consult with them on the steps to be taken.
Joint Committee from French National Assembly and Senate cannot reach compromise text on 2026 budget, according to a Committee member.
Swedish Think Tank NIER sees 2025 GDP at 1.6% (sept. fcst. +0.9%), 2026 GDP 2.9% (sept. fcst. 2.6%).
FX
DXY is mildly firmer and trades at the upper end of a 98.41 to 98.70 range. Really not much driving things for the USD this morning, and with the upside largely facilitated by the JPY weakness. On that note, the BoJ raised rates by 25bps to 0.75% as expected. The decision was unanimous, and it stated that interest rates are expected to remain at significantly low levels, and the bank will continue to raise the policy rate if the economy and prices move in line with forecasts. The presser thereafter, spurred another bout of pressure in the JPY where Ueda avoided explicitly guiding markets towards another rate hike. Though he did highlight that the BoJ will conduct market operations swiftly, under exceptional circumstances in market. Interesting comments from the Governor came as he stated that several BoJ members mentioned that recent JPY weakness may affect prices going forward, adding that this warrants attention, given some believe that it could be affecting inflation. This spurred some very slight strength in the JPY at the time, which later pared.
EUR is essentially flat and trades within a 1.1704 to 1.1728 range. Markets have had a slew of ECB speakers to digest this morning, but really not adding much to the agenda. ECB’s Kocher suggested that they are where they want to be on rates, a comment reiterated by Sleijpen.
GBP is also flat, within a 1.3364 to 1.3387 range. Traders seemingly taking breather following the upside seen in the prior session, following a hawkish cut at the BoE. Since, Governor Bailey has provided some commentary. On Thursday he said that he is “very” encouraged by the process in returning inflation to target; comments which were largely reiterated once again earlier this morning.
Fixed Income
JGBs began the overnight session on a slightly firmer footing, but then came under marked pressure after the BoJ policy decision, where the Bank hiked rates by 25bps as expected. The decision was unanimous, with the accompanying commentary reiterating that it will continue to raise the policy rate if the economy and prices move in line with forecasts. Bond traders appear to be focused on the BoJ’s comments related to higher wages heading into the new year – and ultimately on remarks that the Bank will continue to raise rates in line with expectations. Perhaps focus for JGBs focus on the fiscal side of things, with the BoJ seemingly waiting for economic developments, which will be subject to volatility under PM Takachi’s cabinet.
USTs traded rangebound throughout the overnight session and have continued to trade sideways throughout the European morning. Currently lower by a handful of ticks and within a 112-17+ to 112-23 range. Ahead, US President Trump is scheduled to make an announcement at 13:00EST/18:00GMT on Friday and will deliver remarks on the economy at 21:00EST/02:00GMT.
Bunds and Gilt action has also been exceptionally lacklustre; currently holding a slight downward bias, within a 127.16 to 127.52 and 90.94 to 91.20 range, respectively. A few ECB speakers this morning, but not really any pertinent commentary thus far; Kocher reiterated that interest rates are at a good place. Back to the UK, Gilts mildly underperform – continuing the post-BoE hawkish move seen in the prior session. Some remarks from BoE Governor Bailey earlier who suggested that he is confident that inflation will be close to target by late spring, giving a good reason to expect a bit more downward path on rates. Ultimately, no move in Gilts on the remarks.
Commodities
Crude benchmarks remain contained in tight ranges as the European session gets underway amid a lack of crude-specific newsflow. WTI oscillates in a USD 55.67-55.99/bbl range while Brent holds below USD 60/bbl comfortably as European trade continues. Recent comments via US President Trump, who said that “I do not rule out a war with Venezuela”, according to NBC, had little impact on the complex.
Spot XAU saw initial downside at the start of the APAC session, continuing the reversal lower after failing to hold beyond USD 4350/oz during Thursday’s US session. XAU fell to a trough of USD 4310/oz and since, remains in a c.USD 40/oz band throughout the European morning.
3M LME Copper lead the gains across the metals complex as the risk tone stateside rebounded, which boosted Asia-Pac equities. The red metal opened unchanged but gradually rose, in line with APAC equities. This helped 3M LME Copper break Thursday’s high of USD 11.79k/t and continue to a peak of USD 11.83k/t as the European session gets underway.
Phillips 66 (PSX) reported emissions event at Sweeney refinery and petrochemical complex in Texas on December 17th.
Geopolitics
Russian President Putin said we do not see Ukraine being ready for talks, ready and want to end the conflict via peaceful means. Continue to create a safe zone on the border with Ukraine.
Belarus said “We are preparing to start the combat shift of the Russian Oryshnik missile system”, via Al Arabiya.
Russia’s Dmitriev said regarding EU summit decision that it was a ‘major blow to EU warmongers led by failed Ursula’ and voices of reason in the EU blocked the illegal use of Russian reserves to fund Ukraine.
EU’s Costa said leaders agreed to roll over sanctions against Russia, adds Ukraine will only repay EU loan once Russia pays reparations and the EU reserves its right to make use of the immobilized assets to repay loan.
German Chancellor Merz said Ukraine will receive an interest-free loan of EUR 90bln with these funds sufficient to cover military and budgetary needs for the next two years, and the EU will keep Russian assets frozen until Russia has compensated Ukraine. said: We expressly reserve the right to use Russian assets for repayment if Russia fails to pay compensation in full compliance with international law.
EU’s Costa said we have a deal to finance Ukraine, and the decision to provide EUR 90bln of support to Ukraine for 2026-2027 was approved.
EU official said it seems there is the possibility of unanimity to use headroom of EU budgets to provide funding for Ukraine. EU leaders want work to continue on the technical and legal aspects of the instruments establishing a reparations loan.
EU considers using joint debt to loan up to USD 106bln dollars to Ukraine, according to Bloomberg.
European Council President Costa proposed to EU leaders to address Ukraine’s immediate pressing financial needs through an EU borrowing solution, according to two EU diplomats.
Russia’s President Putin says US President Trump is making frank efforts to end the conflict in Ukraine. Says Russia has been asked to make compromise on Ukraine, in which Russia agreed to. The ball is on the West and Ukraine’s court.
Ukraine has hit Russian shadow fleet tanker in the Mediterranean sea for the first time, according to Reuters citing SBU source. SBU’s aerial drones hit the Qendil vessel, causing critical damage. However, vessel was empty at the time of the attack.
Contacts between Israel and Syria have not made much progress, according to Al Arabiya quoting US sources.
Germany’s Competition Authority approves the merger of Palo Alto (PANW) and Israel’s Cyberark software.
US ambassador to Israel said the US is not considering supplying Turkey with F-35 jets (LMT), which is not on the table under current US laws, via Sky News Arabia.
US Event calendar
8:30 am: Fed’s Williams Appears on CNBC
10:00 am: Nov Existing Home Sales, est. 4.15m, prior 4.1m
10:00 am: Nov Existing Home Sales MoM, est. 1.22%, prior 1.2%
10:00 am: Dec F U. of Mich. Sentiment, est. 53.5, prior 53.3
DB’s Jim Reid concludes the overnight wrap
This is my last EMR of 2025, but Henry will keep it going for a couple of days next week. Thank you for reading and interacting this year and for all the votes in the Extel survey which went well for us again when results were published last week. See you in 2026 for another fun-packed ride through markets. As is tradition, I’ve listed my favourite TV shows of the year at the end alongside my film and album of the year. My wife and I try to watch an hour’s TV when I’m not travelling. It’s getting more difficult as the kids get older and have to be taxied around in the evening, a trend I fear will only get worse. I look forward to hearing your disagreements with the list!
Before I sign off for the year, it’s fair to say that it’s been an incredibly eventful 24 hours in markets, and overnight there’s been no let-up as the Bank of Japan have just delivered a 25bp hike that’s taken rates to a 30-year high of 0.75%. That follows a decision from the ECB to hold rates yesterday, which cemented expectations that they’d finished cutting, along with a hawkish BoE cut that led investors to dial back the prospect of rapid rate cuts next year. But even as those central banks had various hawkish elements, it was a completely different story for the US, as the CPI print was beneath all expectations, leading to a decent Treasury rally as investors priced in faster rate cuts for 2026, even if there were huge doubts about the data’s validity given the shutdown. So it was a day of competing narratives, but for risk assets, the prospect of more Fed cuts and the reaction to Micron’s earnings helped the S&P 500 (+0.79%) rebound after 4 consecutive declines, whilst Europe’s STOXX 600 (+0.96%) hit a new record.
We’ll start with that overnight news from Japan, where the BoJ delivered the 25bp rate hike that was widely expected, and pointed to more ahead. For instance, their statement said that real interest rates were “at significantly low levels”, and if their outlook was realised, they would “continue to raise the policy interest rate”. So that’s pushed Japanese bond yields higher this morning, with the 10yr yield (+4.8bps) currently at 2.01%, which would be its highest closing level since 1999. Indeed, we also had the latest CPI print overnight for November, which showed headline CPI at 2.9% as expected, having now been above 2% consistently since April 2022. That landscape of above-target inflation has provided the BoJ the space to deliver multiple rate hikes now, and they said that “it is highly likely that the mechanism in which both wages and prices rise moderately will be maintained”.
Nevertheless, equities in Asia have still rallied overnight, given the BoJ hike was expected and investors think Fed cuts are more likely following the CPI print. So that’s supported gains across the major indices, including for the Nikkei (+1.11%), the KOSPI (+1.07%), the Hang Seng (+0.66%), the CSI 300 (+0.51%) and the Shanghai Comp (+0.50%). And looking forward, US equity futures are stable, with those on the S&P 500 down just -0.01%.
All that follows a hugely eventful session yesterday, with a big boost thanks to that weak US CPI report, which featured the lowest year-on-year core CPI print since early 2021. However, it’s worth noting that there were several pieces of missing data because of the shutdown, and the methodological issues meant that investors treated it with some caution. For instance, a lot of people looked at the shelter numbers with serious doubt, as they saw a huge drop-off that’s more usually consistent with recessions. For instance, the 2-month annualised change for Owners’ Equivalent Rent (so accounting for the missing October report and this November print) came in at just +1.6%, the lowest since the Covid-19 pandemic. Similarly, the 2-month annualised change for rents of +0.8% was the weakest since the aftermath of the GFC in 2010.
However, even with those data issues, the print was still viewed as soft enough to make Fed rate cuts more likely next year. Indeed, headline CPI was still down to +2.7% year-on-year (vs. +3.1% expected), whilst core CPI was at +2.6% (vs. +3.0% expected). The weak print meant investors priced in more Fed rate cuts, with the amount expected by the December 2026 meeting up +1.6bps on the day to 62bps. So that helped Treasuries to rally across the curve, with the 2yr yield (-2.3bps) down to 3.46%, whilst the 10yr yield (-3.1bps) fell to 4.12%.
Moreover, that offered a big support to equities, with a further boost from Micron (+10.21%) after its earnings announcement the previous day, making it the top performer in the S&P 500. So collectively, that saw the S&P 500 (+0.79%) bounce back from its recent selloff, alongside gains for the NASDAQ (+1.38%) and the small-cap Russell 2000 (+0.62%). Just over 50% of the S&P’s constituents traded higher on the day, with gains led by consumer cyclical subsectors like Autos (+3.2%), Media (+1.6%), and Consumer Discretionary Retail (+1.6%). The laggards were the more defensive names that had a bid in recent days like Consumer Products (-1.5%) and Staples (-0.7%). Finally, Energy (-1.4%) also saw a pullback as oil prices fell nearly -1.4% intraday to finish flat after opening higher on more Venezuela headlines. By the close, Brent crude was only slightly higher (+0.23%) at $59.82/bbl.
Earlier in Europe, the main headlines came from the ECB, who left their deposit rate at 2% as expected. Nevertheless, there was a hawkish tone, and the updated forecasts showed stronger growth and stickier core inflation (at 2.2% for 2026), so that was seen as outweighing the expected undershoot of headline inflation, which wasn’t mentioned at all by President Lagarde. Yet despite recent speculation around an ECB hike next year, this shifting macro tone didn’t translate into a more hawkish policy signal, with Lagarde repeating the line that they were keeping all policy options open. And later in the day, Bloomberg reported that ECB officials expected that the cycle of rate cuts was most likely done, with talk of rate hikes seen as premature. So the decision reaffirmed our economists’ view that the easing cycle is likely over, and they see the Governing Council as determined to retain a neutral policy signal for now. Looking forward, they maintain their view that the ECB’s next move will be a hike, but they don’t see that as likely to materialise in 2026
Against this backdrop, European bonds rallied across the continent, thanks to the soft US CPI print and the absence of more hawkish ECB rhetoric. So that helped yields on 10yr bunds (-1.4bps), OATs (-1.6bps) and BTPs (-2.9bps) move lower. And for equities there was also a strong performance, with both the STOXX 600 (+0.96%) and Spain’s IBEX 35 (+1.15%) at new records, alongside gains for the DAX (+1.00%) and the CAC 40 (+0.80%) as well.
Shortly before the ECB, the Bank of England delivered a 25bp cut as expected, taking their own policy rate down to 3.75%. Yet even though the decision was a cut, it was interpreted in a hawkish light by markets. First, because it was only passed on a narrow 5-4 vote, with the rest wanting to leave rates unchanged. And second, in the statement they added that “further policy easing will become a closer call.” So that suggested the bar was rising to further cuts, and front-end gilt yields sold off in response, with the 2yr gilt yield up +4.2bps, whilst the 10yr yield saw a smaller increase of +0.6bps. See our economist’s review here.
To the day ahead now, and US data releases include existing home sales for November, and the University of Michigan’s final consumer sentiment index for December. Meanwhile in Europe, there’s UK retail sales for November, and the European Commission’s preliminary consumer confidence indicator for the Euro Area in December. Otherwise from central banks, we’ll hear from the Fed’s Williams, and the ECB’s Wunsch, Kocher, Rehn, Simkus, Kazaks, Sleijpen, Pereira, Cipollone and Lane.
Tyler Durden
Fri, 12/19/2025 – 08:29
Pakistán acusa a India de soltar agua sin aviso y amenazar estabilidad
Por MUNIR AHMED
ISLAMABAD (AP) — Pakistán acusó el viernes a la vecina India de “convertir el agua en arma” al liberar agua de represas sin previo aviso, afirmando que esta acción viola un tratado de reparto de agua mediado por el Banco Mundial y amenaza la paz y la estabilidad en la región.
El viceprimer ministro paquistanía Ishaq Dar hizo estas declaraciones un día después de que el Ministerio de Relaciones Exteriores de Pakistán dijera que había escrito a Nueva Delhi buscando aclaraciones sobre lo que describió como liberaciones irregulares de agua del río Chenab.
Dar alegó que Nueva Delhi estaba manipulando los flujos de agua en un momento crítico del ciclo agrícola de Pakistán, amenazando los medios de vida, así como la seguridad alimentaria y económica del país. Dijo que la última liberación irregular de agua del río Chenab se detectó esta semana.
“Tal conducta ilegal e irresponsable tiene el potencial de desencadenar una crisis humanitaria en Pakistán”, afirmó. Pakistán e India tienen una historia de relaciones amargas y han librado dos de sus tres guerras desde que obtuvieron la independencia del dominio colonial británico en 1947.
No hubo comentarios desde Nueva Delhi.
Acciones similares en septiembre empeoraron las inundaciones que devastaron cientos de aldeas en el este de Pakistán, indicaron autoridades. India en ese momento dijo que había alertado a Pakistán sobre posibles inundaciones, que también fueron provocadas por las lluvias monzónicas.
Cachemira está dividida entre India y Pakistán y es reclamada por ambos en su totalidad. El Tratado de Aguas del Indo, que fue mediado por el Banco Mundial en 1960, permite compartir las aguas de un sistema fluvial que es vital para ambos países. El tratado sobrevivió a dos guerras entre los países, en 1965 y 1971, y a un importante enfrentamiento fronterizo en 1999.
Según el tratado, India tiene control sobre los ríos orientales Ravi, Sutlej y Beas, y Pakistán controla los ríos occidentales Jhelum, Chenab e Indo que fluyen a través de la región de Cachemira.
India suspendió unilateralmente el tratado de reparto de agua y redujo los lazos diplomáticos con Pakistán en abril tras el asesinato de 26 turistas en Cachemira controlada por India.
Eso llevó a semanas de tensiones crecientes que culminaron en ataques con misiles de represalia en mayo. La escalada terminó después de que el presidente estadounidense Donald Trump anunciara que había mediado un alto el fuego. Sin embargo, las dos partes no han tomado medidas para normalizar las relaciones desde entonces.
Dirigiéndose a los diplomáticos, Dar declaró: “El agua es vida y no puede convertirse en arma.”
Expresó que Pakistán también ha informado al secretario general de la ONU António Guterres y al presidente de la Asamblea General de la ONU, instándolos a desempeñar su papel en abordar la situación.
Dar señaló que el Comité de Seguridad Nacional de Pakistán advirtió a principios de este año que cualquier intento de detener o desviar el flujo de agua hacia Pakistán sería considerado un “acto de guerra.”
Afirmó que India ha detenido el intercambio de información anticipada, datos hidrológicos y mecanismos de supervisión conjunta requeridos bajo el tratado, exponiendo a Pakistán tanto a inundaciones como a sequías.
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El corresponsal Rajesh Roy contribuyó a esta nota desde Nueva Delhi.
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Esta historia fue traducida del inglés por un editor de AP con ayuda de una herramienta de inteligencia artificial generativa.
4 months in, activists say President Donald Trump’s operation in DC increasingly targets immigrants
WASHINGTON — When President Donald Trump launched a law enforcement operation in Washington, D.C., four months ago, he billed it as a mission to fight rampant crime.
But activists and local leaders say that description belies what has emerged as a simultaneous crackdown on immigrants, who have grown increasingly concerned for their status and safety in the city.
One-third of all arrests made during the operation were immigration-related, according to official figures reviewed by The Associated Press. Activists and immigrants say arrests are frequent and frightening. A lawsuit alleges they are often unlawful. And with no end in sight to the surge in law enforcement in the city, there is no indication the immigration arrests will end.
The threat to immigrants in the city has now become routine, the activists and local leaders say.
Immigration enforcement sweeps are “not making the nightly news anymore because it’s business as usual,” said Washington council member Brianne K. Nadeau.
DC operation is a crime fighting mission, Trump says
Trump launched the federal intervention in D.C. in mid-August with an emergency order that took over the city’s police force and sent federal agents in along with hundreds of National Guard troops.
Trump’s Republican administration says the D.C. mission is intended to fight crime and has touted it as a resounding success, although crime was already on the decline before the operation began.
Official figures show that about 33% of the more than 7,500 arrests made since the operation began through Monday were immigration-related. In September, an Associated Press analysis found that 40% of the 2,400 arrests were immigration-related.
According to U.S. Immigration and Customs Enforcement figures released by the University of California Berkeley Deportation Data Project, of the roughly 1,130 immigration arrests made in the heavily Democratic city from the start of the operation to Oct. 15, the dates for which data was provided, 947 had no criminal record or pending criminal charge.
“The focus of President Trump’s highly successful D.C. operation has been to address crime committed by anyone, regardless of immigration status,” said White House spokesperson Abigail Jackson, who added that many of those arrested were committing crimes, had outstanding warrants or had prior convictions.
The statistics showed arrests in the period were wide-ranging, including homicide and drug charges.
‘My neighbors are being harassed, assaulted and kidnapped’
Although the emergency order affecting the police lapsed in September, arrest sweeps, checkpoints, masked law enforcement and unmarked vehicles are still visible.
Dozens of witnesses in a more than 10-hour municipal hearing earlier this month spelled out the ongoing concerns. Residents said they had seen detentions, often by masked and unidentifiable law enforcement agents. Common targets were school drop-off zones, food distribution sites, landscapers and apartments with large populations of Hispanic residents. There were numerous complaints that the local Metropolitan Police Department has continued working closely with ICE in its immigration efforts despite a pledge by Mayor Muriel Bowser, a Democrat, that they would not.
Nadia Salazar Sandi, a Bolivian immigrant, told the meeting that multiple family members have been detained over recent months, leaving what she said were empty seats at Thanksgiving dinner.
“This is terrifying,” she said of the immigration operations. “I’m a citizen now, and I walk with my passport.”
Witnesses said a number of the detentions began with routine traffic stops by the Metropolitan Police. One instance began as an expired-tag stop that drew more than a dozen federal officers and agents.
“Every single day my neighbors are being harassed, assaulted and kidnapped,” said Leah Tribbett, a city resident. “I could talk for probably the entirety of this hearing and still not recount every single instance of brutality that I’ve seen.”
An earlier information gathering held by Nadeau revealed an increasing desire by some immigrants to fade out of the public eye. One witness was a medical professional who recounted how one family was considering opting out of speech and occupational therapy for their autistic children out of fear authorities would be waiting for them at the clinic.
Tactics used during arrests have been challenged in court
A federal judge earlier this month blocked the Trump administration from making widespread immigration arrests in the nation’s capital without warrants or probable cause that the people arrested have violated immigration law or there is knowledge they are flight risks.
The American Civil Liberties Union and other plaintiffs’ attorneys argued federal officers were frequently patrolling and setting up checkpoints in neighborhoods with large numbers of Hispanic immigrants and then stopping and arresting people indiscriminately.
José Escobar Molina, a plaintiff in the lawsuit, said in court documents that he had temporary legal protections and lived in the city for 25 years. He said he was walking from his apartment building to his work truck when two cars pulled up next to him. Unidentified federal agents grabbed and handcuffed him without asking for his name, identification or any information about his immigration status, he said. They also did not ask where he lived, how long he has been in the area or whether he had ties to the community, he said.
Attorneys for the Trump administration argued that agents had probable cause to detain Molina and the other plaintiffs in the manner that was used.
Department of Homeland Security Assistant Secretary Tricia McLaughlin said arrests in Washington and beyond are carried out lawfully and all detainees receive due process.
Madeleine Gates, associate counsel with the nonprofit Washington Lawyers’ Committee and one of the lawyers representing the plaintiffs, said they have submitted additional statements by community members with dozens of instances in which people were arrested outside proper procedures.
“What we’ve actually seen in practice are officers arresting people without seeming to know who they are,” Gates said.
Trump has not said when he might draw down the federal law enforcement surge. Following the shooting of two National Guard members allegedly by an Afghan national in the city last month, Trump said he planned to bring in hundreds more troops to support the operation.
Local leaders are holding hearings and raising the alarm about the arrests. But they acknowledge that in a federal district with limited autonomy, there is little they can do to push back.
“The frustrating truth,” said Brooke Pinto, a city council member, “is that we do not have the same levers of power and control, nor the same rights, as a district that every one of the 50 other states have to protect our residents.”
https://www.chicagotribune.com/2025/12/19/activists-trump-operation-dc-immigrants/
Harrison Ford to receive SAG-AFTRA Life Achievement Award for his career and humanitarian work
LOS ANGELES — Harrison Ford will receive a lifetime achievement award in March from the actors union SAG-AFTRA.
“Harrison Ford is a singular presence in American life; an actor whose iconic characters have shaped world culture,” the union’s president, Sean Astin, said in a statement Thursday. “We are honored to celebrate a legend whose impact on our craft is indelible.”
He’ll pick up the Life Achievement Award on March 1 at the 32nd Actor Awards presented by the Screen Actors Guild-American Federation of Television and Radio Artists. The awards ceremony will be streamed live on Netflix from the Shrine Auditorium and Expo Hall.
Ford, 83, has numerous iconic roles in a career spanning six decades. He became a global star as Han Solo in the 1977 “Star Wars,” reprising the role several times as the first film grew into a franchise. As swashbuckling archaeologist Indiana Jones, he launched another franchise in 1981 with “Raiders of the Lost Ark.”
And he starred in two “Blade Runner” movies as Rick Deckard, along with a full slate of television roles.
Through the years, Ford has earned numerous accolades, including the Critics Choice Career Achievement Award (2024), Golden Globes Cecil B. DeMille Award (2002), AFI Life Achievement Award (2000) and more.
“I am deeply honored to be chosen as this year’s recipient of the SAG-AFTRA Life Achievement Award,” he said in the statement. “To be acknowledged by my fellow actors means a great deal to me. I’ve spent most of my life on film sets, working alongside incredible actors and crews, and I’ve always felt grateful to be part of this community.”
The SAG-AFTRA life achievement accolade honors an actor who demonstrates the “finest ideals of the acting profession.” It also recognizes his work on various humanitarian and environmental causes.
https://www.chicagotribune.com/2025/12/19/harrison-ford-sag-aftra-life-achievement-award/
Jury finds Judge Hannah Dugan guilty of obstruction for helping an immigrant evade federal agents
MILWAUKEE — A jury found a Wisconsin judge accused of helping a Mexican immigrant dodge federal authorities guilty of obstruction Thursday, marking a victory for President Donald Trump as he continues his sweeping immigration crackdown across the country.
Federal prosecutors charged Milwaukee County Circuit Judge Hannah Dugan with obstruction, a felony, and concealing an individual to prevent arrest, a misdemeanor, in April. The jury acquitted her on the concealment count, but she still faces up to five years in prison on the obstruction count.
The jury returned the verdicts after deliberating for six hours. Dugan faces up to five years in prison when she’s sentenced, but no date had been set as of late Thursday evening.
The case inflamed tensions over Trump’s immigration crackdown, with his administration branding Dugan an activist judge and Democrats countering that the administration was trying to make an example of Dugan to blunt judicial opposition to the operation.
Dugan and her attorneys left the courtroom, ducked into a side conference room and closed the door without speaking to reporters. Steve Biskupic, her lead attorney, later told reporters that he was disappointed with the ruling and didn’t understand how the jury could have reached a split verdict since the elements of both charges were virtually the same.
U.S. Attorney Brad Schimel denied the case was political and urged people to accept the verdict peacefully. He said courthouse arrests are safer because people are screened for weapons and it isn’t unfair for law enforcement to arrest wanted people in courthouses.
“Some have sought to make this about a larger political battle,” Schimel said. “While this case is serious for all involved, it is ultimately about a single day, a single bad day, in a public courthouse. The defendant is certainly not evil. Nor is she a martyr for some greater cause.”
U.S. Deputy Attorney General Todd Blanche praised the verdict on X, saying nobody is above the law, even judges.
According to a court filings that include an FBI affidavit and a federal grand jury indictment, immigration authorities traveled to the Milwaukee County courthouse on April 18 after learning 31-year-old Eduardo Flores-Ruiz had reentered the country illegally and was scheduled to appear before Dugan for a hearing in a state battery case.
Dugan learned that agents were in the corridor outside her courtroom waiting for Flores-Ruiz. She left the courtroom to confront them, falsely telling them their administrative warrant for Flores-Ruiz wasn’t sufficient grounds to arrest him and directing them to go to the chief judge’s office.
While the agents were gone, she addressed Flores-Ruiz’s case off the record, told his attorney that he could attend his next hearing via Zoom and led Flores-Ruiz and the attorney out a private jury door. Agents spotted Flores-Ruiz in the corridor, followed him outside and arrested him after a foot chase. The U.S. Department of Homeland Security announced in November he had been deported.
Prosecutors worked during Dugan’s trial to show that she directed agents to the chief judge’s office to create an opening for Flores-Ruiz to escape.
An FBI agent who led the investigation testified that after agents left the corridor, she immediately moved Flores-Ruiz’s case to the top of her docket, told him that he could appear for his next hearing via Zoom and led him out the private door.
Prosecutors also played audio recordings from her courtroom in which she can be heard telling her court reporter that she’d take “the heat” for leading Flores-Ruiz out the back.
Her attorneys countered that she was trying to follow courthouse protocols that called for court employees to report any immigration agents to their supervisors and she didn’t intentionally try to obstruct the arrest team.
https://www.chicagotribune.com/2025/12/19/wisconsin-judge-hannah-dugan-guilty-obstruction/
Los Angeles Rams’ Puka Nacua apologizes for antisemitic gesture — but adds more controversy after career game
SEATTLE — Los Angeles Rams receiver Puka Nacua’s tumultuous Thursday started with an apology, and ended with more controversial remarks.
In between, he had a career-best performance.
Nacua apologized Thursday for performing a gesture that plays upon antisemitic tropes on an internet livestream, then stayed in the spotlight Tuesday night as he caught 12 passes for 225 yards and two touchdowns in the Rams’ 38-37 overtime loss to the Seattle Seahawks.
After the game, he expressed frustration on social media with a post that referenced referees before removing it.
“It’s just a lack of awareness and just some frustration,” Nacua said about the postgame post. “I know there are moments when I feel, man, you watch other games and you see the calls some guys get, and you wish you could get some of those — but that’s just how football is played.”
Earlier Thursday, Nacua posted his apology in an Instagram post.
“I had no idea this act was antisemitic in nature and perpetuated harmful stereotypes against Jewish people,” he said. “I deeply apologize to anyone who was offended by my actions as I do not stand for any form of racism, bigotry or hate of another group of people.”
The statement is posted on a blue square, the logo for the Blue Square Alliance Against Hate.
Nacua appeared on a livestream earlier in the week hosted by internet personality Adin Ross, who suggested that Nacua perform the gesture as a touchdown celebration. The football player said he would and demonstrated how it would look.
Nacua’s comments on the livestream and after the game overshadowed his performance in postgame discussion, but Rams coach Sean McVay dismissed the idea it was a distraction as Los Angeles prepared for the important game against their division rival.
“It wasn’t a distraction at all,” McVay said. “Did you think his play showed he was distracted? I didn’t think so either. He went off today.”
In addition to setting a career high for receiving yards, Nacua reached 4,000 yards in career receiving in 42 games, tying him with Odell Beckham Jr. and Justin Jefferson for the fastest. According to the team, he also became the third receiver ever to have 160 or more receiving yards in three straight games.
California congressman Eric Swalwell was among those who criticized Nacua, saying it was especially insensitive in light of the attack in Sydney, Australia, that killed 15 people at a Hanukkah celebration.
“The Los Angeles Jewish community is on edge after the Bondi Beach massacre,” Swallwell wrote on X. “He promises an antisemitic touchdown dance for his Thursday night game. He should apologize or be dropped.”
The NFL issued a statement condemning “all forms of discrimination and derogatory behavior directed towards any group or individual.”
“The continuing rise of antisemitism must be addressed across the world, and the NFL will continue to stand with our partners in this fight,” the league said. “Hatred has no place in our sport or society.”
Nacua also criticized NFL referees on the livestream, calling them “the worst” and saying they make incorrect calls because “they want to be on TV, too.”
After the game Thursday, McVay echoed Nacua’s apology.
“He was very apologetic,” McVay said. “He’s a young guy that’s a great kid that’s continuing to learn about just the platform that he has. I love him, we’re going to continue to put our arm around him to help him learn and grow, but we never want to do things that ever offend anybody and I know he feels that same way.”
https://www.chicagotribune.com/2025/12/19/puka-nacua-apologizes-antisemitic-gesture/
Record-setting Merrillville quarterback Michael Hill Jr. is the 2025 Post-Tribune Football Player of the Year
Merrillville quarterback Michael Hill Jr. characterizes his junior season as “bittersweet.”
The 6-foot-2, 180-pound Hill piled up personal accomplishments as he led the Pirates to their first-ever semistate win, but he suffered a broken collarbone in the Class 5A state championship game in Indianapolis, where they fell short of their first title since 1976.
“Accolades-wise, I’m grateful,” Hill said. “I still don’t feel satisfied with the season because we didn’t win state. That was the main goal. Our goal was to play 14 games, and we did that. But my goal was always to win state. So I didn’t necessarily get the goal that I truly wanted.
“But it’s a blessing that I was able to break records, do everything and have the success that I did. Now the next level, we’ve been there. We have the experience. Now we have to win it. There’s no other solution.”
Hill, the 2025 Post-Tribune Football Player of the Year, was instrumental in solving that semistate riddle for the Pirates (11-3), who had been 0-10 in semistate games and made their sixth appearance in seven seasons. He completed a team-record 240 of 368 passes for a team-record 3,220 yards and 28 touchdowns. He also rushed for 682 yards and seven touchdowns on 88 carries.
Hill certainly impressed Merrillville coach Brad Seiss.
“It starts with the history of good quarterbacks that we’ve had in our time here,” Seiss said. “For him to break the completions and passing yards records speaks volumes about the caliber of player that he is.
“Doing all that in his first year as a starter is probably the most impressive thing just because quarterback’s a comfort position, an experience position, and for him to do what he did, logging his first start against Andrean and just continuing to get better each week, shows the type of talent that he has.”
Hill eclipsed D.J. Wilkins’ 226 completions from 2015 and Jake Raspopovich’s 3,154 yards from 2012 and ranks second in single-season touchdown passes and completion percentage.
“I know how much work I put in this offseason, and it really showed and paid off,” Hill said. “I’m grateful that the guys’ records I broke didn’t feel any type of way about it. They wanted me to keep going and doing what I love doing.
“DJ Wilkins, he always gave me encouragement. We talked a few times. He always told me to keep my head up. I’m just really grateful that all of the alumni were always checking up on me and making sure I was doing good. Even with my injury, everyone was showing a lot of love. I’m just really grateful for the community and everyone around me showing so much love.”
Hill suffered the broken collarbone early in the second quarter of the Pirates’ 38-17 loss to perennial power New Palestine in the state championship game. He actually returned for the next series midway through the second quarter before he exited the game for good.
“It was just so much pain, it was unbearable,” he said. “The trainers looked at me. They tried to keep me calm. It was over like that.”
The way Hill responded underscores his character, according to Seiss.
“It’s definitely what you’re looking for in the quarterback position,” Seiss said. “He’s a leader by example and also a leader by being a vocal guy. It was most evident in the state championship game. Obviously, his heart gets crushed with breaking his collarbone, but he didn’t feel bad for himself for too long. Once he knew he wasn’t going to be able to get in, he was all in helping DJ (Bowles) do the best he could under really, really difficult circumstances, being the backup guy coming in against a really good football team in the state championship.
“When DJ threw his touchdown to Mikel Smoot, (Hill) was the first guy to greet Smoot when he got to the sideline. All throughout the second half, (Hill) was in the offensive and defensive huddle, just trying to encourage and provide leadership and keep his teammates going.”
Merrillville quarterback Michael Hill Jr., right, looks for a receiver during a Class 5A semistate game against Concord in Merrillville on Friday, Nov. 21, 2025. (Andy Lavalley / Post-Tribune)
It took a little while for Hill’s Merrillville career to truly get going.
After playing freshman football at Mount Carmel in Chicago, Hill returned to his hometown school and spent most of his sophomore season on the junior varsity team before he gained varsity eligibility for Merrillville’s regular-season finale. He completed 2 of 5 passes for 12 yards and ran for 131 yards and three touchdowns on 12 carries.
“Being first-year varsity, I was actually very nervous about this season,” Hill said. “Everything looked like it moved a lot faster. But once I realized it was just playing the game that I’ve loved since I was a kid, it really didn’t faze me.”
It didn’t take long for Seiss to fully recognize Hill’s ability.
“We knew we were on to something,” Seiss said. “But with that said, we lost a couple of our leading receivers from last year along with having the two running backs (Jac’Quarious Johnson and Cameron Jordan) back. Having all of those opportunities to throw, you didn’t think that was necessarily going to happen. But it became evident as summer went along and he was competing to be the starter, and then as we got into game play, you knew.
“There’s only so many schools out there that can effectively throw the ball, and only so many schools that can guard the pass. So just the idea of being able to cover not only one guy but the entire field, he did an awesome job of distributing it to everybody. When you look at last year, our two leading receivers were like 28 and 26 receptions, and we had three guys over 60 receptions this year. It speaks volumes of how well he was able to take what the defense gave him and read coverage and distribute the ball to everybody.”
Hill threw nine interceptions this season, but four came in the first two weeks against Class 2A state champion Andrean and Illinois powerhouse Loyola, and the fifth came against four-time Duneland Athletic Conference champion Crown Point in Week 3. He had just one interception in the last seven games.
“He made some mistakes early, and as the year went on, those mistakes went away,” Seiss said. “We knew that we were going to have to live with a first-year starter and some mistakes early, and he did that. But pretty much from a couple games in, you knew what you were getting, and he delivered the ball and did a great job.
“On top of that, just what he brought to the table from an athleticism standpoint, when teams felt they were going to get him, he was always able to evade them. He did a good job of mixing scrambling for rushing yards with being able to extend plays and find open guys once coverage broke down. … You look at just the overall body of work, he just continued to get better.”
Merrillville quarterback Michael Hill Jr. scrambles for yards during a nonconference game against Andrean in Merrillville on Friday, Aug. 22, 2025. (Michael Gard / Post-Tribune)
Hill is expected to get out of his sling over winter break and return to the basketball court for the Pirates in the first week of January. Also part of the 400-meter relay team that placed sixth at the state meet last spring, Hill should resume throwing a football after the start of the new year.
“There’s that kind of ‘what-if’ component a little bit, and you feel bad for him because just the opportunity to go play in front of the entire state and show his talents, that got taken away by getting hurt,” Seiss said. “But he’s done a good job. He’s handled things well.
“Anybody in those circumstances would definitely play the ‘what-if’ game, what would’ve happened if I was able to play, what could’ve we done. But he didn’t really care about that, and he provided great leadership and encouragement when it was evident he couldn’t play.”
Hill recalled growing up watching his cousin A’Veyawn Madry, a defensive back who graduated from Merrillville in 2021 and is on Purdue’s roster.
“It was all of his friends playing together,” Hill said. “They were playing since they were little, Pop Warner. So when I came back, I was really excited. I really wanted to bring a state championship home to the school.
“We didn’t get the result we wanted, but it still meant a lot to get there. We still made history. We still had fun playing the game. I’m just grateful to God to even be in that position. Now we’re coming up for a bigger year, we’re hoping to do the same thing and take it to the next level to win a state championship. Now we just have to put our heads down and grind.”
Reino Unido investiga incidente en medio de reportes de ciberataque
Por DANICA KIRKA
El gobierno británico confirmó el viernes que está investigando un “incidente cibernético” tras informes de prensa según los cuales hackers vinculados a China accedieron a miles de documentos confidenciales en poder del Ministerio de Asuntos Exteriores, de la Mancomunidad y de Desarrollo.
El ministro de Comercio, Chris Bryant, afirmó que la investigación comenzó en octubre y el gobierno cree que existe un “riesgo bastante bajo” de que la información personal de alguien haya sido comprometida.
Los comentarios surgieron después de que el periódico The Sun informara que Storm 1849, una banda de hackers vinculada al gobierno chino, podría haber accedido a información relacionada con decenas de miles de visados.
“Eso es pura especulación, y realmente no quiero avivar más especulaciones”, expresó Bryant a la BBC. “Creo que también es especulación si se relaciona directamente con China”.
Las acusaciones surgen en un momento delicado en la relación de Gran Bretaña con China, ya que el gobierno del primer ministro Keir Starmer intenta reconstruir los lazos comerciales y diplomáticos que se han visto tensados por preocupaciones sobre el espionaje chino y los abusos a los derechos humanos.
Starmer al parecer planea viajar a China a finales de enero, siendo la primera vez que un primer ministro británico visitará el país desde 2018. Mientras tanto, el gobierno ha retrasado una decisión sobre los planes de China para construir una nueva embajada masiva en Londres, en medio de críticas de que podría ser utilizada como base para el espionaje.
Bryant manifestó que el gobierno está tratando de adoptar un enfoque pragmático en sus relaciones con China, reconociendo que hay áreas en las que ambos países pueden trabajar juntos y otras en las que Gran Bretaña debe desafiar a Beijing.
“Creo que nuestra relación con China debe ser una con los ojos bien abiertos”, dijo. “Y hemos sido muy claros en eso desde el principio”.
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Esta historia fue traducida del inglés por un editor de AP con ayuda de una herramienta de inteligencia artificial generativa.
Skokie lights Hanukkah menorah candles downtown, days after Australia shooting
As tiny lights strung on trees cut through the darkness Dec. 16 at Skokie’s memorial park at Krier Plaza, a band of celebrants lit one more light: a Hanukkah candle on a menorah.
Organizers highlighted the ceremonial nature of light in the darkness and also mourned the 15 people killed at a Hanukkah event in Bondi Beach, Australia about two days prior. They also tried to respectfully balance that with providing some delight to children, as Hanukkah is traditionally a festive, family-oriented holiday.
Activities included the candle lighting, Skokie Mayor Ann Tennes flipping a switch to light an electric menorah, the distribution of latkes (hot potato pancakes) and sufganiyot (fried donuts), a fire dancer and a gelt (chocolate disks wrapped in foil to look like gold coins) drop.
A crowd gathers in Skokie for a Hanukkah menorah lighting Dec. 16, 2025, in the memorial park at Krier Plaza, Oakton St. and Lincoln Ave. Rabbi Yochanan Posner, in red cap, welcomes the crowd, while volunteers at lower left in photo prepared hot cocoa, latkes and sufganiyot (donuts) as refreshments. (Chaya Mishulovin)
Rabbi Yochanan Posner of Lubavitch Chabad of Skokie noted the event was historic because it was the first time Mayor Ann Tennes, who was elected in the spring, officiated.
Skokie mayors have been participating in menorah lighting ceremonies with Lubavitch Chabad of Skokie and generations of Rabbis Posner for about four decades, starting with Mayor Al Smith and continuing with Mayor George Van Dusen, he noted. His father is Rabbi Yosef Posner.
A crowd gathers in Skokie for a Hanukkah menorah lighting Dec. 16, 2025, in the memorial park at Krier Plaza, Oakton St. and Lincoln Ave. Rabbi Yochanan Posner, in red cap, welcomes the crowd, while volunteers at lower left in photo prepared hot cocoa, latkes and sufganiyot (donuts) as refreshments. (Chaya Mishulovin)
Reflecting on the massacre in Bondi Beach, Australia, Posner noted that as a Chabad rabbi, he takes it very personally. The Skokie menorah lighting is one of eight public events he will be doing this year, including seven more at Westfield Old Orchard Shopping Center in Skokie.
“These terrorists killed my colleagues in Australia,” he said. “My friend’s son is among the injured. But beyond that they are aiming squarely for me, a Chabad rabbi who lights the menorah in public.
A fire dancer performs at the Hanukkah menorah lighting Dec. 16, 2025, at Skokie’s memorial plaza at the southeast corner of Oakton Street and Lincoln Avenue. The celebration was organized by Skokie Chabad. (Chaya Mishulovin)
“They know what the menorah represents, and they don’t like it and they tried to kill it. The menorah represents the right of all people to worship in the way they see fit.”
He called the Bondi Beach shooters extremists who believe in using violence to advance their absolutist goals of religious domination.
“The message and motive of the Bondi Beach shooters is the exact opposite of the meaning and motif of the Hanukkah menorah…” he said, adding that its message of religious freedom is relevant now more than ever.
Elected officials posed for a photo at Skokie’s Hanukkah menorah lighting Dec. 16, 2025 in the memorial plaza at Oakton St. and Lincoln Ave. From Left, Skokie Trustees Jim Iverson, Gail Schechter and Keith Robinson, Rabbi Yochanan Posner, Chicago 50th Ward Committeeman Bruce Leon, Rabbi Yosef Posner, Skokie Clerk Minal Desai, Skokie Mayor Ann Tennes, Skokie Trustee Alison Pure Slovin, State Rep. Jennifer Gong-Gershowitz, Cook County Board Commissioner Josina Morita with her daughter and State Sen. Ram Villivalam. (Chaya Mishulovin)
“Hanukkah teaches something uncomfortable but true. Light does not negotiate with darkness,” he said. “Light does not ask permission. It appears. And by existing, it exposes what darkness really is.”
He also thanked the Skokie police for providing security for the event.
