- S&P 500 Futures bounces off weekly low, US 10-year Treasury yields stay near the highest since February 2020.
- US President Joe Biden shows readiness to vaccine jab for all Americans by July.
- The UK teased two-jab process completion by September, NSW starts vaccinations from Monday.
- A light calendar, China’s off triggered pullback earlier in Asia.
US President Biden’s coronavirus (COVID-19) optimism joins the league of the UK and Israel to trigger the latest risk-on mood during early Wednesday.
Read: US President Biden: Every American who wants a Covid-19 vaccine will be able to get one by the end of July 2021
While portraying the mood, S&P 500 Futures recovers from the intraday low, also the weekly bottom, as trimming the early losses to 0.14% near 3,913 by press time. Also on the same line, the US 10-year Treasury yields bounce off the latest low of 1.299% to 1.306%, near a one-year high.
Initially in Asia, the on-going Lunar New year Holidays in China joined a lack of major data/events to trigger the consolidation in risk catalysts. In doing so, the market players ignored US Treasury Secretary Janet Yellen’s readiness to establish close linkage with their transatlantic business partners, like Europe, which previously had a bumpy road.
That said, the UK’s promise to deliver two doses of vaccines by August-September and Israel’s successful completion of immunizations join upcoming vaccinations in Australia’s New South Wales (NSW) to portray the vaccine optimism.
Also on the risk-positive side were updates concerning US President Biden’s covid relief package that recently eyed to be rolled out by March 08, as signaled by CNN’s Manu Raju.
It should, however, be noted that the investors await the US Retail Sales figures for January, ahead of the FOMC minutes, for fresh impulse.
Read: US Retail Sales January Preview: Credit markets foresee consumer recovery
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