European markets held their ground with US futures, as Asian stocks rallied at the close of a chaotic week.

Luxury stocks rose in Europe as Richemont, the owner of Cartier, topped earnings expectations, offsetting a decline in tourism companies. Contracts on US gauges were majoritively unchanged. Asian stocks rose, aided by a surge in Japan; according to a report, the country's fiscal stimulus will total 40 trillion yen ($350 billion).

After a trading holiday on Thursday, Treasuries resumed their selloff as the market continues to be weighed down by this week's surprise US inflation statistics. Concerns that pricing pressure would compel the Federal Reserve to hike rates sooner than expected contributed to losses in five-year notes. The yield curve has flattened for the first time since March 2020.

The dollar rose despite caution sparked by a US warning that Russia may be considering an invasion of Ukraine. Oil, gold, and bitcoin all fell in value, Treasuries slipped.

- According to a poll, BoE to lift bank rate to 0.25% on December 16th vs first hike seen in Q1 2022 in October poll.

- Kremlin: We act to protect Russia's security if there are actions by our opponents - NATO and the US - along our borders.

- In response to Lukashenko's gas threat, the Kremlin quotes Putin's assertion that Russia has always maintained its contractual obligations.

- Japan is planning an economic stimulus package worth more than 40 trillion yen, according to the Nikkei.

- EU Commission Forecast: Eurozone inflation at 2.4% in 2021, 2.2% 2022, 1.4% 2023.

- Money Markets expecting 2 full, 10 BPS ECB rate hikes by December 2022 - ECB Watch

- ECB's Rehn: Relief for supply bottleneck may not happen until the end of 2022.