By Chris Becker
The bulls are Charlie Sheen winning here as January inflation data from the US is embiggening traders that the Fed will continue on its rate rise agenda – a March lift now above 40% probability – sending US stocks to new record highs again overnight. Treasuries are at a juncture with yields now at 2.5%, almost at the 2.6% uncle point that every man and his dog as the dumping point from the 30 year plus secular bond bull market. Paradoxically this was priced in on USD so it slipped slightly, the Aussie dollar shot north on commodity bullishness while gold keeps powering on.
Onto Asia’s session yesterday, where the Shanghai Composite maintained its position above 3200 points, but slipped after the long lunch break falling 0.15% to finish at 3213. Support at 3100 points remains solid, and momentum is building here for an attempt to breach the 2016 high at 3300 points:
