Reflation Themes At The Fore

Spill over from Friday's reflation trade narrative has been evident during early Asia-Pac hours, with global core FI pressured and e-minis registering fresh all-time highs in early dealing this week. This comes even with widespread holidays still in play in the Asia-Pac region, which are further compounded by the U.S. holiday in play on Monday (with the latter meaning that cash Tsys will have to play catch up as they re-open for Tuesday's Asia-Pac session).

• The Nikkei 225 briefly topped the 30,000 mark for the first time in decades.
• The USD trades lower on well-trodden narratives, even with positive developments surrounding U.S. COVID count matters evident. Still, the DXY remains within the confines of last week's range.
• There is little of note on the regional Asia-Pac docket on Monday, leaving the broader macro backdrop in the driving seat.