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Now there’s that 2022 spirit

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That’s not quite the case in full, with oil down nearly 2% on the day, but that applies to almost everything else in broader markets. Equities are higher with European stocks leading, helped by weaker German and French inflation figures this week. US futures are also slightly higher, so the overall market mood remains more stable today.

Meanwhile, bonds also continue their good shape as a result with 10-year Treasury yields down to 3.70% from opening around 3.83% yesterday. In Europe, German 10-year Bund yields are down to 2.31%, a far cry from late last week’s peak of 2.56%.

As for the dollar, it is down across the board, with some of the losses outpacing yesterday’s gains among the major currencies. EUR/USD is up 0.8% at 1.0630, GBP/USD is up 0.9% at 1.2070 and above its 200-day moving average, seen at 1.2027. USD/JPY is also pinned down 0.5% to the 130.30 levels after encountering another test of 130.00 in early trading.

But the best performer is the Aussie, which is up more than 2% against the dollar as buyers push for a technical break, as previously reported here.

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