By Chris Becker
Its another session of record highs and lows with bond yields still surging following the US Federal Reserve’s interest rate hike, while financial stocks helped lift US stocks back into the green. The USD is flexing its strong muscles again, with Euro slumping and gold making another new low as it craters. Today’s action in Asia should finish the week on a better note as a result.
Yesterday in Asia, the Shanghai Composite fell straight through key support at 3140 points down 0.7% to 3114. As I said previously, this now clears the way down to the next level at 3000:
