by Chris Becker
European stocks fell out of bed overnight after the Spanish elections while US stocks recovered from the Friday “twitching” as Brent crude capped a new 10 year plus low as the Saudi’s try to work out what the hell they’re going to do in a post-oil global economy. Again, calling markets at this time of year is hard as volumes start to crater. Bonds were extremely calm except in Spain where a mild selloff after Spanish bank stocks were sold off as PM Rajoys conservative government was returned to power without majority.
Recapping Asia’s session where the Shanghai Composite brokeout finally, lifting nearly 2% in a solid session to 3642 points, almost clearing the former highs at 3670. A breakout here and we’re off to the races!
