By Chris Becker
The confidence fairy has packed up her bags and headed home last night, even in the face of a strong private employment data print in the US and much cheaper oil prices as inventories unexpectedly rose to new levels. This dragged down energy stocks in the US, sent the USD soaring and Treasuries selling off in an interesting trend.
Looking at Asia’s session yesterday, where the Shanghai Composite tried to continue with its positive start to the week, but tumbled after the lunch break before recovering to finish down only a few points to be at 3240 points. The former high at 3300 points remains the target here but these fits and spurts are not confidence inspiring:
