- Monday as amid uncertainty about President Biden's economic plans and mounting worldwide omicron infections, prompting selloffs in stocks, equity futures, and oil while strengthening sovereign bonds.
- After Moderna stated its vaccine raised antibody levels against Omicron, US futures sank at least 1%, but European shares pared losses. Treasury bonds rose and the dollar kept its gains from Friday, while crude oil fell on concerns that travel restrictions to alleviate the stress might affect demand.
- Senator Joe Manchin surprised the White House on Sunday by rejecting Biden's approximately $2 trillion tax-and-spending programme, leaving Democrats with few alternatives for salvaging it. Goldman Sachs analysts cut their US economic growth projections.
- Meanwhile, the possibility of European lockdowns are increasing, with UK authorities refusing to rule out potential tougher measures before Christmas, and the Netherlands returning to lockdown. Although US restrictions are unlikely to be necessary, Biden plans to warn the public on Tuesday about the dangers of not being vaccinated, and his top medical adviser has warned that hospitals may be overburdened.
- Russia’s Deputy PM Novak: On January 4, OPEC+ will address the necessity to amend the agreement conditions.
- OPEC+ compliance with oil output restrictions increased marginally to 117% in November. - Sources
- ECB's de Cos: Rate hikes are unlikely in 2022 - Expansion
- BoJ's Governor Kuroda: It is too soon to think about normalizing monetary policy.