seem to be confirming the exuberance, having reentered the rising channel in place from the November 2020 and August 2021 lows.may simply be biding its time before the next leg higher as the futures market works through an overcrowded long position; speculators are the most net-long since October 2019.
Confirming prognostications made during the weekly recording over the past month, the increase in transmissibility of the omicron variant does indeed to have come along with a decrease in lethality. US equity markets have shaken off those late-November/early-December fears that there would be a protracted slowdown in growth and corporate earnings, with the US S&P 500 hitting fresh all-time highs this week.
If the omicron variant is merely a passing concern, then it appears likely that the Federal Reserve will plow forward with its more aggressive QE taper timeline, keeping intact the potential for three 25-bps rate hikes in 2022.
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