Overview
Mostly better-than-expected manufacturing PMI readings for December, including in China, is providing the latest incentive for equity market bulls. Led by the Nikkei, which was aided by a weaker yen, major equity markets in Asia-Pacific rallied and recouped most of the nearly 1% loss before the weekend. Europe's Dow Jones Stoxx 600 is also shrugging off the pre-weekend loss and to challenge the multi-year high recorded last week. US shares are trading firmer, and the S&P 500 could gap slightly higher at the open. Bond markets are selling off hard, with benchmark yields mostly