U.S. stock futures are higher. Milder severity from the Omicron variant is driving equity futures higher and patient data regarding the magnitude of illness is thus far encouraging, resulting in a constructive backdrop for equities. Additionally, as information from initial patient experiences are validated, treasury bond yields are expected to inch higher. Investors are looking for the November CPI report, which will be released on Friday, for firmer direction on inflation. The Treasury will auction roughly $54B of 3-year notes today. Bitcoin prices have recovered most of the decline from the weekend and is currently trading above $50k. The beleaguered Chinese property company Evergrande is likely to default on its debt as S&P Global Ratings said default “looks inevitable” and the Chinese government officials must decide if they should intervene to support the lender and the sector or allow a restructuring. Yesterday, the People’s Bank of China announced a reserve requirement reduction for banks by 0.5% to 8.4%, starting 12/15/21 and is expected buffer liquidity within the funding markets. In global trading, European markets are higher and Asian markets closed mainly higher, both supported by positive news from world health officials.