Regeneron and Lilly antibody drug cocktails reportedly lose effectiveness against the omicron variant
This according to a WSJ report, with Regeneron saying that its COVID-19 antibody drug cocktail was found to lose effectiveness against omicron based on preliminary tests. Adding that perhaps there needs to be a modification if the new strain becomes widespread.

Latest data released by Eurostat – 30 November 2021
However, services inflation and non-energy industrial goods inflation were both also seen above the 2% mark. That suggests that the rise in underlying price pressures is quite broad as well. Just something to be wary about.

A full 25 bps rate hike now seen in September 2022
That compares to last week when a 25 bps rate hike was priced in for July 2022 instead. As mentioned , this is arguably one reason why the euro is managing to take in some comfort against the dollar since Friday.

10-year Treasury yields approaching a key technical crossroads
The November low and the 100-day moving average (purple line) resides at the level so a break below that could see yields tumble further amid the risk-off sentiment in the market.

What is driving the move higher in EUR/USD?
A simplistic approach to viewing major currencies is that when markets are risk-off, the main beneficiaries are typically the yen, franc and dollar.

Also declines to comment on OPEC+ plans ahead of the meeting this week
In truth, nobody knows for sure how serious the Omicron variant is going to be but for now, markets are on edge but breathing a little easier to start the new week.

Latest data released by Destatis – 29 November 2021

Calmer tones prevail after Friday’s rout
European indices are up 0.3% to 0.7% while S&P 500 futures are up 0.6% as risk trades are holding up so far on the day. The Omicron variant worries are still the main thing to watch out for but as mentioned earlier, essentially „no news is good news“.

Latest data released by Eurostat – 29 November 2021
Of note, selling price expectations jumped once again from 42.3 revised to 49.0 in November, its highest on record in the report:

Latest data released by the BOE – 29 November 2021
The annual growth of consumer credit remains on the softer side, even if there was a slight improvement to -1.0% in October as compared to -1.7% in September.