“Markets this week and next will be for day traders with steely nerves and deep pockets, not for trend followers,” Jeffrey Halley, senior market analyst at Oanda Asia Pacific Pte, said in a note. “As I have repeatedly said, the winner in December is V for volatility.”
Monday’s Asia trading session took on a decisively risk-off tone: US stock index futures fell, Treasuries gained and risk-sensitive currencies slid as investors fretted over fresh lockdowns to slow the new variant.
Senator Joe Manchin’s rejection of the US spending package at the heart of President Joe Biden’s economic agenda heaped fresh fuel to the fire with market liquidity starting to thin as Christmas nears.
