An overnight update from BBG
(Bloomberg) -- European equities rally with Euro Stoxx 50 up as much as 2.1% before drifting off best levels. Miners, tech and autos are the best performers, utilities and media names lag. S&P futures add 0.6%. Cash USTs bull steepen, bolstered by a large curve steepener that blocked in early London. Bunds are soft at the back end, peripherals slightly wider ahead of today’s ECB meeting. Gilts bear steepen slightly, white pack sonia futures are lower by 2-3.5 ticks. Cable snaps to best levels of the week ahead of today’s BOE decision, which sees MPC-dated OIS rates price in roughly a 50-50 chance of a 15bps move. Elsewhere in FX, Bloomberg dollar index drifts 0.2% lower. NOK outperforms in G-10 after Norges Bank rate action, other commodity currencies are similarly well bid. Crude futures hold a narrow range around best levels of the session. WTI is up 1.1% near $71.70, Brent near $74.70. Spot gold grinds higher, adding ~$9 near $1,786/oz. LME copper outperforms in a well-bid base metals complex. Bloomberg’s Markets Live team is running an anonymous survey on asset views for 2022. It takes about two minutes and the results will be shared in the latter part of December. To participate, click here. KEY HEADLINES:
France restricts travel from U.K. after cases jump: Virus Update
U.K.’s covid surge cuts growth to slowest since lockdown
Norway delivers rate hike that omicron had threatened to derail
SNB says franc is highly valued as omicron clouds outlook
German borrowing to stay close to record to fund pandemic aid
China says trade outlook remains ‘complex, severe’ next year
Chinese creditors sue Evergrande for $13 billion in claims: FT
All emphasis mine. THIS TWEET contains an excerpt as well as a link thru TO FT for those attempting to play along at home with the Chinese Evergrande saga