By Chris Becker
The tide is turning from all out confidence to “hang on a minute” as the return of an isolationist America is playing havoc with risk managers across all markets following the weekends immigration executive order from the Trump administration. After a poor lead in Asia yesterday, European and US stocks slumped, dragging the US dollar down as safe havens like Yen and Treasuries were scooped up instead as German CPI came in last night a little less than expected.
First to Asia’s session yesterday, where Chinese stock and commodity markets are closed for Chinese New Year for the week.