In Asian Equity Markets stocks held onto their recent gains on Wednesday after last week’s pummeling, as global equities rebounded thanks to a combination of positive COVID-19 vaccine news and easing worries over tapering of Federal Reserve stimulus. MSCI’s broadest index of Asia-Pacific shares outside Japan was last off slightly, but still up 3.7 percent so far this week. Markets were mixed with Australian shares gaining 0.16 percent, but Chinese blue chips losing 0.24 percent. Japan’s Nikkei were flat. The Hong Kong benchmark jumped nearly 1 percent on opening but was last down 0.5 percent.

In Currency Markets the safe-haven dollar traded near a one-week low versus major peers on Wednesday as concerns eased that the highly contagious Delta coronavirus variant could derail a global economic recovery, lifting commodity-linked currencies like the Aussie. The dollar index was little changed at 92.955. Australia’s dollar was roughly flat at $0.7254 after climbing as high as $0.7271 on Tuesday, also a one-week high. Against the euro, the dollar fell 0.08 percent to $1.17475 on Wednesday, after touching a one-week low of $1.17655 overnight.

In US Equity Markets stocks ended higher in a late-summer, light volume rally on Tuesday as the FDA’s full approval of a COVID-19 vaccine on Monday and the absence of negative catalysts kept risk appetite alive ahead of the much-anticipated Jackson Hole Symposium. The Dow rose 0.09 percent, to 35,366.26, the S&P 500 gained 0.15 percent, to 4,486.23 and the Nasdaq Composite added 0.52 percent, to 15,019.80. Best Buy Co Inc rose 8.3 percent after the electronics retailer beat analyst earnings expectations and raised its full year sales forecast.

In Commodities Markets oil prices rose 3 percent on Tuesday, supported after Mexico suffered a large production outage due to a fire on an oil platform and also by full U.S. regulatory approval of vaccines for COVID-19. Brent crude oil futures settled up 3.4 percent, at $71.05 a barrel, while U.S. West Texas Intermediate (WTI) gained 2.9 percent, to settle at $67.54. Spot gold was steady at $1,804.99 per ounce. Silver rose 0.9 percent to $23.86 per ounce, and platinum fell 0.1 percent to $1,012.5, while palladium was up 2.1 percent at $2,451.18.

In European Equity Markets stocks ended flat on Tuesday as investors held back from making big bets ahead of an update on U.S. monetary policy, even as data outlined a stronger-than-expected economic recovery in Germany. The pan-European STOXX 600 index closed largely unchanged at 471.79 points, following a selloff last week that knocked it off record levels. German stocks rose 0.3 percent as data showed Germany’s gross domestic product grew by 1.6 percent on the quarter from April to June, slightly up from its previous estimate of 1.5 percent, helped by private consumption and state spending.

In Bond Markets U.S. Treasury yields rose on Tuesday as investors waited on comments on Friday by Federal Reserve Chair Jerome Powell for any new indications on when the central bank is likely to begin paring bond purchases. Benchmark 10-year yields rose three and a half basis points to 1.290 percent. The yields are in a range after falling from a one-month high of 1.379 percent on Aug. 12, while holding above a six-month low of 1.127 percent reached earlier this month. Two-year yields were last at 0.226 percent.