High Frequency Economics - The headline November trade deficit rose to $63.1B from $57.8B, above the consensus $59.5B and the biggest gap since Sep 06. Some $4.5B of the $5.4B jump in the deficit was due to surging

oil imports, reflecting higher prices, and a drop in the aircraft surplus. The trend in the latter is very strong so this is likely temporary. Ex-oil and aircraft, goods exports dipped a trivial 0.1%, but note this was the second straight decline after a run of very strong numbers.