By Chris Becker
The global bond rout continued overnight, even as the BOE made no changes to its six year record low interest rate policy, which saw Gilts sold off alongside Bunds and Treasuries, yields rising 6-8 basis points in big moves. Stocks were hit, down 1% intrasession but came back for minor losses, but a stumble out of the blocks to start the week for sure.
Recapping Asia’s Monday, where the fallout from China’s weekend easing of interest rates made all the bourses bid, except Australia. The Shanghai Composite rose 3%, continuing to bounce off local support, now at 4333 points and looking to kick up another gear in its epic bubble.