By Chris Becker
Big breakouts overnight with the US dollar rallying significantly, sending oil tumbling while European stocks were boisterous, a sour bond market and a solid housing start result in the US kept American stocks muted. Interestingly, the data deluge in Europe was all on the bad side, with the closely watched German ZEW survey tanking to a new low, UK retail sales flat as inflation retreats, while EZ inflation remains completely flat.
Recapping Asia, the Shanghai Composite rebounded from its recent slump, up over 3% to just above 4400 points on further stimulus action emanating from the PBOC. In Japan, a significantly weaker Yen sent the Nikkei 225 up nearly 1%:
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