Macro Morning (on standby)

By Chris Becker

Wait and see is the prevailing mood in both Europe and the United States last night as stock markets treaded water in the mire of the Greek crisis then fell on a strong personal spending/consumption expenditure print, giving further impetus for rate rises. Bonds were slightly sold off and commodities retreated too in a turtle like fashion.

Recapping Asia first, where the Shanghai Composite slammed headlong into selling pressure, down over 3% to just above 4500 points, where its now sitting right on support.