Bitcoin edged down after posting record highs but Zaye Capital Markets said the pullback will likely be temporary and that the $100,000 price target could be reached before Donald Trumpβs inauguration day.
The 10-year Treasury-Bund yield spread was down and Citi said that any upside surprise in U.S. CPI data on Wednesday could add further impetus to its widening.
Gold consolidated in the early Asian session. However, the likelihood of tariffs early in the Trump administration has increased inflationary worries, FlowCommunity said.
The Hang Seng closed down 0.1%, tracking U.S. futures, with increased uncertainty under Trumpβs second term, especially over tariffs, weighing on sentiment in trade-dependent economies, UOB said.
The Organization of the Petroleum Exporting Countries cut its forecast for oil-demand growth for the fourth consecutive month after further delaying its planned output hike amid market concerns over weaker global consumption and lower prices.
Oil prices were broadly stable despite ongoing investor disappointment over Chinaβs stimulus plans and a stronger dollar, with investors awaiting the monthly OPEC and IEA reports, as any further downgrades to demand-growth estimates could weigh on sentiment.
Jefferies continues to be long in Italian government bonds seeing room for further spread tightening near term, adding it would look to take off its long view around the second week of December.