by Chris Becker
We slide into the Christmas season slowly and quietly with not much data or events for markets to react to, as US stocks put on nearly 1% overnight, while European stocks were mainly steady. Crude oil maybe finding a bottom, at least on the WTI marker as the Brent crude contract actually dipped below the American version for the first time in 10 years as an upcoming inventory report might be taking short profits off the table. The fallout from the Spanish election continued with broad selloffs in Euro sovereign bonds.
Recapping Asia’s session where the breakout in the Shanghai Composite has not yet been confirmed with a solid but underwhelming session yesterday, up 0.2% to 3651 points, just below the former highs at 3670.
