By Chris Becker
Bonds ruled the roost overnight, well US Treasuries at least with yields selling at four year lows amid caution in the risk complex, with US and European stocks selling off overnight. The USD remains weak against the peripheral currencies like Aussie, Kiwi and Kroner but also tellingly against Euro which is nearly at a two week high. Oil prices fell nearly 3% on a suprise expanded inventory count, whereas most analysts were expected a drop, and this dragged US energy stocks down amid everything else.
Yesterday the Shanghai Composite slipped nearly a quarter of a percent, remaining just above critical support level of 3000 points Again, another sign of a lack of confidence in this heavily manipulated bourse, which needs to clear the July highs and its 200 day moving average before talking about a sustainable rally:
