By Chris Becker
US markets reached another record high as European bonds rallied amid speculation about more stimulus from the ECB, while commodity markets surged, particularly copper and steel. Its all fingers on the buy button for risk markets as US Treasuries and interest rate futures bake in a 100% chance of an interest rate rise by the Federal Reserve next month.
Looking at Asian stocks yesterday first, where the Shanghai Composite put in another solid session, up 0.9% to 3248 points. My next target at 3400 points remains in sight, but a pullback to previous resistance, now support to 3140 or so would be normal as momentum is slightly overdone:
