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Correction: Risk-On! Tone Greets 2022

US TSYS
Markets kick off 2022 with an appetite for risk.
  • Equities firmer, ESH2 poised to extend all-time highs currently trading +32.25 at 4790.75 vs. 4797.75 all-time high.
  • Gold -4.30 at 1824.9; West Texas crude +.75 at 75.96; US$ index (DXY) +.057 at 95.727.
  • Rates weaker, albeit on very light volumes (TYH2 under 140k) as NZ, Australia, Japan and London are out for New Years holiday.
  • Yield curves flatter, near middle overnight range:
    • 3M10Y -0.578, 145.179 (L: 142.943 / H: 147.055)
    • 2Y10Y -0.402, 77.396 (L: 76.045 / H: 79.419)
    • 2Y30Y -1.9, 116.773 (L: 115.033 / H: 120.607)
    • 5Y30Y -1.224, 63.861 (L: 62.211 / H: 66.681)

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