The day opens with a familiar year-end posture: activity continues, but decisive moves are rare.

Across major capitals, the visible work is implementation. Policies agreed earlier in the year are moving into operational phases—where budgets, staffing, and compliance capacity matter more than speeches.

Markets show a similar mood. Thin liquidity can make price moves look calmer than underlying uncertainty would suggest, while participants quietly price insurance against surprises.

For readers, this is a day that rewards patience: subtle shifts in guidance and institutional tone are more revealing than dramatic announcements.