by Chris Becker
With Thanksgiving overnight, there was not much for markets to go on a US lead, so they went there own way for a change. European stocks rallied back to their mid August highs, while commodities were very mixed with oil dropping as the Saudi’s realise their failed gambit is over (Thank Dog) and metals – especially copper – rebounding sharply on speculation of intervention by Chinese authorities on short selling. Bonds were very quiet with almost no change in the major 10 year yields.
Recapping Asia’s session, where the Shanghai Composite is still trying to break free out of its congestion zone around 3600 points, and after its 1% liftoff on Wednesday, has retraced some yesterday. The rally in commodities overnight might help here:
