Key Points
Despite Omicron, Powell made hawkish comments on accelerating tapering process, sparking new rounds of volatility
Encouraging underlying trend beneath the surface of the disappointing headline reading of the November employment report
Credit valuation corrected to some extent, and hedging activity has reached an all-time high in Europe, leaving some breathing room in case of further volatility; high carry and low duration products remain the favorite spot to add following recent selloff