Some Point To Yellen As A Supportive Factor For Broader Risk-On

A market contact has flagged some potential speculation surrounding Janet Yellen's Tuesday address in front of the Senate Finance Committee as another supportive factor for broader risk appetite during Asia-Pac hours, with some focus on her 2016 comments re: running a "high-pressure economy" as a point of reference. While her nomination as President-elect Biden's proposed U.S. Tsy Secretary is of course on the fiscal side of things, the U.S. economy is facing testing times, with some suggesting her previous lines of communique during her time as FOMC Chair indicate that she will have no qualms re: running the economy hot if deemed necessary. While this may not be the driver in isolation, it may be adding a further round of support to the risk-on move witnessed in Asia-Pac hours.