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CROSS ASSET

Markets Sensitive To Omicron Spread

MYR

Ringgit Slips In Holiday-Thinned Trade

US TSYS

Another, Modest, Omicron Bid Kicks In

CHINA RATES

China Repo Rates Rise Friday

MARKET TALK
MARKET TALK: Light risk-off flows to start the week, with focus on U.S. COVID-19
matters, issues surrounding COVID-19 in China (with another 2 regions of China's
capital moving to a state of high alert, the remaining 37 areas remain medium
risk) & fresh political headwinds for U.S. President Trump (low turnout Tulsa
rally & the situation surrounding the ousting of a top NY legal prosecutor).
- Elsewhere, the heavily watched r number (relating to COVID-19 transmission)
has surged to 2.88 in Germany, although the jump centres on localised cases, for
now. Germany's RKI has noted that the number "reacts sensitively to short-term
changes in case numbers, such as those caused by individual outbreaks. This can
lead to relatively large fluctuations, especially if the total number of new
cases is small... In light of the still low daily case numbers, both R values
should be interpreted with caution and in their course over several days."
- Cable hovers around unch., with the Times pointing to the potential for
temporary cuts to the VAT rate (maybe announced in July), while there is the
potential for the announcement of looser COVID-19 restrictions on Tuesday.
- E-minis edge lower, T-Notes lightly bid, NOK, AUD, NZD & CAD lag in G10 FX.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com