Choppy markets expected as Omicron unfolds and inflation persists

SINGAPORE – Inflation, rising interest rates, anaemic economic and jobs recovery, Omicron. The sum of all fears weighed heavily on the market last week, resulting in volatility not seen since August.

The dismal November jobs report – where US non-farm payrolls increased by a mere 210,000 versus the 546,000 rise in October, combined with the market’s expectation of 573,000 – simply added to the wall of worry that investors are already facing from elevated inflation and impending monetary tightening.

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