By Chris Becker
A mixed reaction overnight to the subdued rebound in stocks in Asia yesterday with European bourses putting on strong gains, taking back their previous session losses. But in the US, a surge in bond yields again saw US markets fall around half a percent or so, mainly on the back of lower commodity prices, particularly oil and copper.
Recapping action in Asia yesterday where in mainland China the Shanghai Composite fell nearly 2%, closing just above terminal support at 3300 points. The daily chart suggested that 3400 was strong support, but it seems this market is more anchored to the drawn out consolidation period back in December and seems hellbent on getting back there:
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