It’s heading into the year end but nevertheless the forex markets are in motion. The NZD and AUD are leading a „risk-on”move today and are the strongest of the major currencies. The JPY and the USD are the weakest and taking the brunt of the selling. China remains an issue as they relax Covid problems, but are now being impacted by the surge in cases as they fact those repercussions. US stocks are higher in pre-market trading after yesterday’s mixed results (Dow higher/Nasdaq and SandP lower). The Santa Rally is still dumb. December appears to be a low month for the first time since 2018 (although Q is still positive). Bond yields are lower in early trade today. , Pending home sales today at 10:00 AM ET, an estimated -0.8% vs. – .6% last month. The Richmond Fed Regional Index is also released at 10:00 am. and -9 last month. Looking at other markets: Spot Gold down -$6.81 or -0.37% at $1,806.31 Spot Silver down -$0.16 or -0.70% at $23.8 Crude oil price -$0.65 at $ ,67 . 79 Yesterday US Stock Premarket: Dow is up 52 points after yesterday’s 37.63 gain SandPis is up 3.5 points after yesterday’s -15.55 loss Nasdaq is up 7 points after yesterday’s -1 gain . In European stock markets: German DAX -0.15D French CAC, unchanged UK FTSE 100 0.80D Spanish Illusion 0.23D Italian FTSE MIB unchanged In the US, the return is two years, -9 %,. of points five years 3.936% -2.5 basis points 10 years 3.831% -2.6 points 30 years 3.911% -3.1 basis points

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