By Chris Becker
More mixed messages in economic data overnight with falling home sales in the US offset by falling weekly jobless claims while European PMIs were solid although German internals were less than expected. This translated into a very small grind higher for stocks and European bond markets while US 10 year Treasuries continued to rally, yielding 2.19% and steadily clawing back losses.
Recapping Asia, the Shanghai Composite reacted well to the poor manufacturing PMI and rose swiftly up past 4500 points as calls for further stimulus gain momentum alongside the bubble. In Japan, the Nikkei 225 was frustratingly dead flat for the day as we wait for a breakout here:
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