- Asian stocks were steady after US stocks hit an all-time high amid optimism that the economic recovery will weather the outbreak of the omicron virus strain.
- The Japanese market fluctuated, and casino firms rallied in Hong Kong as a result of favourable results from Macau license-renewal hearings. Taiwan's stock index was on the verge of setting a new high. On Christmas Eve, volumes have thinned, and many markets are closed or operating with reduced hours.
- Economic data that painted a picture of solid US growth, as well as a UK study suggesting that omicron infections are less likely to result in hospitalisation, have aided sentiment. However, the study cautioned that the rapidly spreading variant could still result in a significant number of serious cases.
- Investors shifted away from safe havens and toward riskier assets. Treasury bonds and the dollar index fell during US trading hours, while crude oil rose to near $74 per barrel. Bitcoin extended gains above $50,000 after breaking through that level for the first time in nearly two weeks.
- There is no cash trading in treasuries.
