by Chris Becker
Is it over? Can we come out from under our desks? Although the Asian session yesterday didn’t auger well, the inevitable bounce in risk following the recent shellacking occured first in European and then US stock markets, with the former up well over 1% while the latter almost got there as well. Interestingly, it was a big move overnight for US Treasury yields, up 7 points in one session and getting ready to test the 2% handle again, while other sovereigns were mixed. Commodities were key again, with oil hitting the $20 something for the first time in over a decade, gold fell back as did copper.
Recapping Asia first where the Shanghai Composite finally had a positive session, although it ended up basically being a scratch, up 0.2% just above terminal support at 3000.We could see a bounce here and a nice rally on any whiff of optimism, so watch out:
