US markets were weaker in the month, with the Dow Jones down -3.7% and S&P 500 down 0.8%. As Fed Chair Jerome Powell weighed an earlier end to bond tapering and said the recent rise in Covid-19 cases and the emergence of the omicron strain pose downside risks to employment and economic activity and increased uncertainty for inflation.
Long-dated U.S. treasury yields were mixed, with the 2-Yr higher yield at 0.55% and 10-Yr yield lower at 1.44%.
EUROPEAN MARKETS
European markets declined with the Stoxx Europe 600 Index down -2.6%, UK FTSE down -2.5% declined with the Stoxx Europe 600 Index down -2.6%, UK FTSE down -2.5% and German DAX down -3.8%.
ASIAN MARKETS
Asian markets were mostly lower over the month, with the Nikkei down -3.7% and KOSPI down -4.4%. The Shanghai Composite rose +0.5%. As PBOC’s quarterly report indicated a shift toward easing measures to bolster the economic recovery and China’s Vice Premier Liu. He said he’s confident about the economy’s outlook in 2022, pledging enhanced support for small and foreign businesses.
COMMODITIES
Over the month, WTI oil price declined -19.1% to US$66.18/bbl, as U.S. announced release of 50m barrels of crude from its strategic reserves in concern with China, Japan, India, South Korea and the U.K. in an attempt to lower prices. Iron ore prices declined -14.4% to US $94.39 per tonne and spot gold declined -0.5% to US $1,775 per ounce.
