Global markets are spooked by elevated yields with the 10-year Treasury yield sitting at a near-eight month high while UK Treasury seeks to reassure investors rising gilts. In China, yields also rise as the yuan hits a 16-month low. The PBOC moves to suspend treasury buying due to a shortage of available bonds. X owner Elon Musk reiterates his support for Germany’s AfD during a livestream conversation with leader Alice Weidel. In aviation news, Airbus delivered 766 jets in 2024, slightly missing expectations. However the French plane maker maintains its lead over rival Boeing for the sixth year running. Wall Street futures point lower following Christmas with investors now eyeing December’s non-farm payroll data due out later today.

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