- Concerns over the severity of the omicron virus strain faded on Tuesday, alongside China announcing measures to boost economic growth, boosting stocks and futures. Treasury rates and the dollar remained unchanged. Oil prices continued to rise.
- Technology stocks pushed Europe's Stoxx 600 index higher, while Nasdaq 100 futures surged. Chinese tech companies have also recovered from last week's sell-off, with Alibaba Group Holding rising to its highest level since its Hong Kong debut in 2019.
- Risk assets have recovered this week as preliminary data revealed that the surge in omicron cases hasn't swamped hospitals, and China's actions have helped to calm markets roiled by bouts of volatility. Concerns over the variant, as well as Federal Reserve Chair Jerome Powell's hawkish stance, drove down technology stocks last week.
- US Treasury Secretary Yellen: Some shortages likely to take a few years to solve.
- ECB's Kazimir: APP will be the essential instrument in the future; It's critical that we don't alter the APP.
- Kremlin: Tensions in Europe are at an all-time high, and that the situation necessitates high-level negotiations.
- China's Foreign Ministry on the US diplomatic boycott of the Winter Olympics in Beijing: This could hurt bilateral dialogue and cooperation in key sectors.
- Evergrande bondholders are still owed money as the grace period expires.
