In Asian Equity Markets stocks were mixed on Monday as risk assets found support from the upbeat U.S. October payrolls report but faced another test later in the week from a reading on U.S. inflation that could spook the rate horses. Moves were modest with MSCI’s broadest index of Asia-Pacific shares outside Japan off 0.2 percent. Japan’s Nikkei lost early gains to decline 0.2 percent, short of a recent five-week peak. The broader Topix ended 0.30 percent lower at 2,035.22. Chinese blue chips dithered either side of flat, stuck in a range that has held for almost four months.

In Currency Markets the dollar made a steady start to the week in Asia on Monday but stayed below Friday peaks, as currency traders seek a path between markets’ volatile rate projections and central bankers vowing a wait-and-see approach despite surging inflation. The dollar was bid against the yen and clawed back some ground lost last week, rising 0.2 percent to 113.65 yen. The dollar also rose slightly on the euro to $1.1558, though remained below the 15-month top of $1.15135 made in the wake of strong U.S. labour data on Friday. The U.S. dollar index rose 0.1 percent to 94.308.

In US Equity Markets main indexes scored record closing highs on Friday and booked solid gains for the week following a strong U.S. jobs report and positive data for Pfizer’s experimental pill against COVID-19. The Dow rose 0.56 percent, to 36,327.95, the S&P 500 gained 0.37 percent, to 4,697.53 and the Nasdaq Composite added 0.2 percent, to 15,971.59. A trial of Pfizer Inc’s experimental antiviral pill for COVID-19 was stopped early after the drug was shown to cut by 89 percent the chances of hospitalization or death for adults at risk of developing severe disease. Pfizer shares rose about 11 percent.

In Commodities Markets gold rose more than 1 percent on Friday to a near two-month high as major central banks’ dovish tone on interest rates this week lifted the demand for the safe-haven metal. Spot gold was up 1.2 percent at $1,813.36 per ounce. Spot silver rose 1.2 percent to $24.05 per ounce. Platinum rose 0.7 percent to $1,032.71 per ounce and palladium was up 1.3 percent at $2,025.32 per ounce, both on course for a weekly gain. Brent crude was up 2.7 percent, at $82.68 per barrel. West Texas Intermediate crude (WTI) gained 3 percent to $81.28.

In European Equity Markets stocks wrapped up another week of gains on Friday, led by advances in travel stocks after a positive update from U.S. drugmaker Pfizer on its pill for COVID-19 and amid persistent optimism about earnings season. The pan-European STOXX 600 ended flat, but clocked 1.7 percent in weekly gains. Germany’s DAX reversed early declines to scale fresh peaks, as investors shrugged off disappointing industrial output data in Europe’s biggest economy. France’s benchmark CAC 40 index breached the 7,000 points barrier for the first time ever, and was up 0.8 percent.

In Bond Markets U.S. Treasury yields fell and the curve flattened in choppy trading on Friday amid uncertainty as to how the latest employment data, which showed job growth rose more than expected in October, could affect the timing and size of future Fed rate hikes. The benchmark 10-year yield, which fell to its lowest level since Sept. 24 at 1.436 percent and marked its biggest downward move since July 19, was last 7.4 basis points lower at 1.4496 percent. The two-year yield, which hit a session high of 0.458 percent following the data’s release, was last down 1.6 basis points at 0.4008 percent.