​Daily Bulletin: Thursday Nov. 27

All eyes were on the OPEC meeting today, where it was decided that the production level of 30 million barrels per day would be maintained, despite current global oversupply. The ETFS Brent Crude, for example, declined to 45.35 on Thursday following the news, while most other oil underlyings also fell. Names such as Total and GDF Suez came under put flow pressure, as did Royal Dutch Shell. In the Eurostoxx 50, and in light of the flattening skew, traders noted an increase in downside protection strategies, with flow in 19 Dec-14 puts at 3,200 highlighted in today’s trading. With the U.S. closed for Thanksgiving, our attention focused on Asia Pacific and Europe. We look at why Eaton Vance sees increased value in India and China’s equity markets, and how hedge funds are beginning to close their books for the year.