In Asian Equity Markets staged a recovery on Tuesday on receding worries about the impact of the Omicron variant while Chinese markets were supported by the central bank easing monetary policy. MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 1.3 percent. China’s CSI300 index gained 0.6 percent and Hong Kong’s Hang Seng Index advanced 1.7 percent as the central bank freed up $188 billion in liquidity through a policy easing. Elsewhere, Australia’s S&P/ASX200 rose 0.95 percent, while Japan’s Nikkei advanced 2.1 percent as risk-on sentiment pushed markets higher.

In Currency Markets the dollar was supported against other safe-haven currencies such as the Japanese yen on Tuesday, hanging on to a jump made with U.S. yields, as investors hoped early signs the Omicron variant may be mild will be proved correct. The Aussie rose about 0.2 percent on the dollar to $0.7066 in the wake of the Reserve Bank of Australia meeting. The yen nursed Monday’s 0.6 percent decrease, its largest in two weeks, at 113.53 per dollar. The common currency nursed modest Monday losses at $1.1291 on Tuesday. Sterling rose 0.2 percent to $1.3283.

In US Equity Markets stocks rose on Monday, as economy-linked banks and energy stocks charged back and fear about the Omicron variant eased, even as investors braced for another roller-coaster ride like last week’s. The Dow rose 2.17 percent, to 35,332.14, the S&P 500 gained 1.55 percent, to 4,608.95 and the Nasdaq Composite added 1.16 percent, to 15,260.38. Nvidia fell 2.8 percent, still pressured by regulator concerns about its deal to buy British chip firm ARM Ltd. Peers Qualcomm Inc and Advanced Micro Devices Inc pared early losses, as did the Philadelphia SE Semiconductor index which lost 0.2 percent.

In Commodities Markets oil prices climbed by nearly 5 percent on Monday on hopes the Omicron coronavirus variant would have a less damaging economic impact if its symptoms proved mostly mild and as some OPEC member countries signaled confidence in the market. Brent crude rose 4.6 percent, to settle at $73.08 a barrel. U.S. West Texas Intermediate crude rose 4.9 percent, to settle at $69.49 a barrel. Spot gold fell 0.3 percent to $1,778.09 an ounce. Spot silver fell 1.2 percent to $22.25 an ounce. Auto-catalyst metal platinum rose 0.4 percent to $935.73, while palladium was up 2 percent at $1,846.27.

In European Equity Markets travel stocks helped European shares mark a strong start to the week on Monday, after sharp losses late last week, boosted by hopes that the Omicron variant of the corona virus would be mild. After marking its third straight week in the red, the pan-European STOXX 600 closed up 1.3 percent. The technology index was the only sector in the red, down 0.5 percent, tracking U.S. peers. Roche rose 1.5 percent after the European Union’s drug regulator recommended extending the use of the drugmaker’s RoActemra arthritis drug for adult COVID-19 patients.

In Bond Markets U.S. Treasury yields rose on Monday, with the benchmark 10-year briefly climbing back above 1.4 percent after hitting its lowest level since late September on Friday in the wake of the November jobs report. The yield on 10-year Treasury notes was up 4.8 basis points to 1.389 percent after rising as much as 1.404 percent on the day, after falling as low as 1.335 percent on Friday, its lowest since Sept. 23. The yield on the 30-year Treasury bond was up 3.2 basis points to 1.707 percent.