FAST FIVE: Futures Jump In Volatile Session Dragged By Latest Twists In Omicron Saga

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25 Sterling fell against the euro and the dollar, as traders pare bets on the path of Bank of England rate hikes following reports that the UK could introduce fresh Covid-19 restrictions such as working from home and vaccine passports for large venues.

US 2-year yields were cheaper by 1bp on the day, rose to new 2021 high following Pfizer vaccine report; 2s10s spread erased a flattening move In commodities, crude futures turned red, WTI falling 0.8%, popping back below $72.

Looking at the day ahead, and Olaf Scholz is expected to become German Chancellor in a Bundestag vote today.

Note, this will not be a formal lockdown but more so work-from-home guidance, vaccine passports for nightlife and numerical restrictions on indoor/outdoor gatherings.

Running through yesterday's data, the US trade deficit narrowed to $67.1bn in October (vs.

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