By Chris Becker
The dip in stocks may well be over before it starts with US stocks recovering last night, while Euro bourses slipped on the London attacks but currency markets were non-plussed. Treasuries remained strong with 10 year yields slipping below 2.4% with further advances in European yields on the safe haven trade. Oil was basically unmoved on last nights crude supply report but is structurally weak.
Looking at what happened yesterday first, the Shanghai Composite closed down 0.5% to 3245 points, not quite as bad as other Asian markets but not smacking of confidence either. Local support at 3200 level is not far away and although the former high at 3300 points remains the target here but these fits and spurts are not confidence inspiring:
