By Chris Becker
US traders came back from a three day weekend and decided to bid up, well almost everything! The positive mood out of Asia and lack of any economic news helped the mood with US rallying over 2.5%, pushing up commodities like iron ore, oil and copper 4-5% while bonds were sold off and gold remained the bridesmaid. SPI Futures are pointing to a very solid open on the ASX200 this morning and we could be in for a suckers rally on bank stocks. More on that later.
Recapping Asia’s session, where the Shanghai Composite lifted nearly 100 points or 3% to 3170 points and still clinging above the terminal support line. It still has not been able to clear the recent five day high so I’m not getting excited here yet:
