December 28th Morning Report

US markets closed lower at the beginning of a holiday-shortened week on Tuesday as investors weighed the likelihood of protracted restrictive Fed policy against China's relaxation of its strict zero-COVID rules. The Dow Jones Industrial Average closed down 1.75%, while the S&P 500 and Nasdaq Composite were down 3.02% and 2.25% respectively.

Other key markets ended higher. European stocks closed as follows: the FTSE100 (+0.05%), the Dax 30 (+0.39), CAC 40 (+0.70%) and the STOXX (+0.42%). In Asia, the Hang Seng and Shanghai indices closed mixed. The key Asian indices ended yesterday as follows: Nikkei 225(+0.16%), HSI (-0.44%) and the Shanghai Composite (+0.98%).

The yield on the US 10 - year note was at 3.851%, while the 2 - year note was at 4.391%. Oil was up to $79.62 per barrel, up 0.08%. The gold price was at US$1821.30 per ounce, up 0.95%. 

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