By Chris Becker
A big rebound in risk overnight as earnings in tech stocks combined with a drop in opposition within the GOP ranks on their tax bill mean the largesse is now more likely than ever. The USD firmed slightly but the action was in Treasuries with the 10 year yield moving higher signalling a risk on mood.
Recapping Asia yesterday first where in mainland China the Shanghai Composite closed 1 point below 3400 points, falling about 0.1% despite the PBOC making one of its biggest cash injections. Support at 3400 may come under more pressure here, but my upside target at 3600 remains unless the weekly lows at 3340-3360 are taken out:
