U.S. export order expectations worsened in December, according to the latest ISM survey, with a reading of 47.3 (where below 50 indicates a contraction) compared to 47.9 a month earlier. That follows a 2.4% year over year drop in U.S. exports in November and has come despite the announcement of a phase 1 trade deal between the U.S. and China. By comparison, Chinese export sentiment has returned to positive territory for the first time since May 2018 with a 50.3 reading from 48.8 a month earlier. Sentiment also improved in Germany, possibly linked to the avoidance of a hard Brexit at leas...