By Chris Becker
Hesitation and uncertainty are the names of the game in risk markets right now, following the recent rout. Except in oil, which is bursting like a milkshake as the short squeeze from its recent collapse pushes the sweet crude almost 30% from its bottom! Stocks were muted across all regions last night, and bonds were sold off as well, particularly German bunds.
Recapping Asia’s session, where even a non-intervention intervention by Chinese authorities – including stringing up anyone who speaks negatively of the markets – could keep the Shanghai Composite from falling, down nearly 1% but still above key support at 3000 points. This is a tepid chart at best with no momentum behind the bulls:
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