By Chris Becker
Another week of record highs in US stocks, but other markets are less sanguine, as the really interesting moves are in currency and bond markets. The US dollar is being jawboned down against everything as part of the Trump anti-globalist push, while US Treasury yields are solidly above 2.6%, the uncle point that many bond followers have called the end of the bull market. This seismic shift underneath risk markets, with the major currencies now highly elevated and placing pressure on domestic economies and stocks, is going to make for an interesting 2018!
Looking at the longer term view on stock markets first, the Shanghai Composite continues to go from strength to strength, bursting through the 3500 point level as it tries to end its bear market. Looking to the left of the chart its easy to see that the next target to get back into bull market territory firmly is 3700 points with momentum clearly behind it:
