Stocks in Japan surge as the yen posts its worst session in almost three years and the JGBs fall back as the BoJ insists it will continue its yield curve control procedure. We hear from Polish President Andrzej Duda who says that Russian President Vladimir Putin is on the back foot in Ukraine, calling on allies to further increase support for the nation. German Finance Minister Christian Lindner tells this channel that a trade war with the U.S. must be avoided and that Brussels should work hand-in-hand with Washington to combat inflation. In banking news, Goldman Sachs posts its worst profit miss in almost ten years with rival Morgan Stanley also underperforming. However, U.S. bank CEOs in Davos predicted a more gentle recession this year. Chinese Vice Premier Liu He is set to meet with U.S. Treasury Secretary Janet Yellen in Zurich as Beijing reports a steady increase in full-year FDI.

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