- UK offers 1 billion pounds to firms hit hardest by Omicron
- Cleveland Fed's CPI Nowcast almost at 7%
- UK MPs are set to have a briefing on Omicron at 18:00GMT
- The Turkish Finance Ministry has announced *cough* "guaranteed" savings bonds
- Bonds down, yields up, sentiment sideways
- Go-Go-Gadget Rate Hikes
- Turkish Finance Minister will provide details of economic measures at 11:00GMT/06:00EST today.
- Ruh-Roh for RORO?
- The buy-the-dip pattern has temporarily supported stocks and crypto
- European Opening Bell - Green on the screen
- ECB's 2021 bond buying draws to a close
- German sentiment data tumbles: Gfk comes is at -6.8 vs. an expected. -2.7
- Russian gas flows to Germany via Yamal-Europe stop - Gascade data
- Turkish lira goes gang-busters after Erdogan's anti-dollarization plan and $1bln USD sold
- Mr. Miyagi Markets (risk-on, risk-off, risk-on)
Today saw a much-improved market sentiment, with participants looking through the Omicron-induced market fears that plagued us yesterday.
A complete lack of tier-1 economic data meant we were left headline watching, and even that failed to generate much excitement.
USD feel vulnerable as it trades under the 96.50. Should the firmness in yields fade, I expect USD to suffer.
Standout performers in FX-space are the antipodes and GBP, with the latter up 0.35% and flirting with 1.3250
In stocks, European bourses have been pulling like a train and are set to hit the US cash open at, or very close, to their highs of the day.
Crude markets joined in on the improved sentiment vibe and found a bid throughout the morning, WTI currently trades, 69.60
Finally, in what seems to be a daily headline, European power prices hit fresh contract highs. News that Russia failed to book any natural gas capacity via the Yamal-Europe pipeline did the price no favours.
