By Chris Becker
A typical and not unusual bear market really on risk markets following the poor US unemployment print on Friday due to hopes – and hope alone – that the Fed will hold off on a 1937 style repeat and raise rates anytime soon. Rising 2% or more in a day is high volatility but usual in a bear market and should only be played using swing strategies and not meaningful positions. Bonds continue to be sold off in the switch, except here in Asia which saw a bid, commodities lifted except for gold which remains at its post-NFP breakout high.
Recapping Asia’s session, where the Shanghai Composite remains closed for the Golden Week holiday.