In Asian Equity Markets stocks were trading in positive territory on Tuesday as investors became cautiously optimistic the new Omicron variant might not cause a widespread global economic disruption to worsen the coronavirus pandemic. MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.52 percent higher on Tuesday. In Australia, the S&P/ASX200 was up 1.15 percent while Japan’s Nikkei was trading 1.2 percent higher early in the session. Hong Kong’s Hang Seng Index underperformed, down 0.25 percent while China’s blue chips CSI 300 index was up 0.13 percent.

In Currency Markets the safe-haven yen on Tuesday gave up some of the gains it made during last week’s market ructions as investors traded on hopes the Omicron coronavirus variant would not derail a global economic recovery as initially feared. The dollar rose as high as 113.89 yen during the Asia morning. It was last at 113.65, up from Monday’s two week low of 112.97. Sterling was little changed at $1.3324, while the euro also was flat at $1.1297. The dollar index last traded at 96.148, up from a low of 95.973 on Friday, when it suffered its biggest one-day decline since May.

In US Equity Markets stocks regained some of Friday’s losses on Monday, with the technology sector leading the charge and investors appearing to be somewhat reassured by U.S. President Joe Biden’s comments about the Omicron virus variant. The Dow rose 0.81 percent, to 35,182.77, the S&P 500 gained 1.50 percent, to 4,663.61 and the Nasdaq Composite added 1.98 percent, to 15,798.29. Advanced Micro Devices rose 3.5 percent following a report that electric-car maker Tesla has started using a new AMD chip in Model Y vehicles in China.

In Commodities Markets oil pared gains late on Monday, but finished the session higher as investors viewed Friday’s decrease in oil and financial markets as overdone absent more data on the Omicron coronavirus variant. Brent crude futures settled at $73.44 a barrel, up 1 percent, having slid by $9.50 on Friday. U.S. West Texas Intermediate (WTI) crude settled up 2.6 percent at $69.95 a barrel. Spot gold fell 0.4 percent to $1,784.80 per ounce. Spot silver fell 1.3 percent to $22.84 per ounce. Among the auto catalysts, platinum gained 1.2 percent to $965 and palladium rose 2.7 percent to $1,795.69.

In European Equity Markets stocks rose on Monday after their worst selloff in more than a year as investors awaited clues on whether the Omicron variant of coronavirus would hamper economic recoveries and monetary tightening plans by central banks. The pan-European STOXX 600 ended up 0.7 percent, logging its best day in a month and recovering some of Friday’s 3.7 percent decrease triggered by concerns around the newly discovered variant. London’s FTSE 100 jumped 0.9 percent with investors also betting the Bank of England may be forced to rethink monetary policy tightening next month.

In Bond Markets U.S. Treasury yields mostly rose and the curve steepened on Monday amid a waning flight-to-safety bid that had been triggered by the detection of a new coronavirus variant last week, leading to the market’s biggest rally since the onset of the pandemic. The benchmark 10-year yield, which fell as low as 1.473 percent on Friday and rose as high as 1.565 percent earlier on Monday, was last up 3.6 basis points at 1.5209 percent. On the shorter end of the curve with the two-year yield, which reflects short-term interest rate expectations, last down less than a basis point at 0.5157 percent.