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Small firms join consumers in being most upbeat in 12 years.
German output rises, French business confidence improves.
Historically, Republican presidents have been more likely to face a U.S. recession.
Europe pushes back against including a capital floor in reforms.
Opinion: Even if 2017 would otherwise be a good year for Treasuries, foreigners' selling of bonds makes a rally highly unlikely.
Prime Minister May will provide details about her Brexit plans in early 2017.
