Sentiment was initially upbeat, but further European activity restrictions and stalled Brexit talks dampened the mood. The S&P500 is currently up 0.1%, the AUD and NZD are little changed, and US bond yields are slightly lower.

US equities pared losses after a stop-gap US spending bill was agreed, the S&P500 closing down 0.1%. Bond yields fell and the defensive US dollar rose slightly.

US equities were fairly stable amid ongoing stimulus talks, the S&P500 unchanged. Bond yields were also stable, while risk-sensitive currencies rose. The ECB delivered further easing, as expected, while Brexit-related EU-UK trade talks faltered.

US equities fell amid mixed messages from the US fiscal stimulus talks. The S&P500 is currently down 0.9%, and risk-sensitive currencies are slightly lower, while bond yields were rangebound.

US equities made fresh record highs – the S&P500 is currently up 0.3% - despite Covid cases in the US continuing to rise. US fiscal stimulus talks were seen to be progressing favourably. The risk-seeking mood didn’t extend to other asset classes, with bond yields slightly lower and risk-sensitive currencies little changed.

US equities pulled back from record highs, the S&P500 currently down 0.3%. Bond yields fell and the defensive US dollar rose slightly. Markets were focussed on developments in US fiscal and Brexit talks, with neither yet resolved.

Markets appeared to overlook a disappointing US jobs reports, assuming it will hasten agreement on a government relief package. The S&P500 rose 0.9% to a fresh record high, with bond yields also rising, although most risk-sensitive weakened slightly.

US equities nudged higher, the S&P500 up 0.2% to a fresh record high. The defensive US dollar fell, although so too did bond yields, There was some progress in US fiscal relief talks.

US equities stalled at record highs, the S&P500 unchanged on the day. The defensive US dollar fell slightly, while bond yields rose further as markets priced in the prospect of reflating economies.

Risk-seeking resumed, the S&P500 up 1.5% to a fresh record high. The defensive US dollar fell, and bond yields rose. Noteworthy supportive events included indications that negotiations for US fiscal support could resume soon, and progress in UK-EU Brexit talks.