By Chris Becker
Emerging markets are ruffling feathers throughout the bond world with a sudden influx of bids sending Treasuries higher late in the session, pushing stocks down on both sides of the Atlantic. Tech stocks in particular were dumped with the NASDAQ down nearly 1% at one stage, erasing some of the gains of a week that was looking more bullish. Futures are indicating a mixed start to the day here in Asia as a result, with a much firmer USD certain to upset stock/currency correlations.
Recapping stocks in Asia yesterday first where the Shanghai Composite put in yet another scratch session, climbing just a handful of points to close at 3116, where it started well but finished with a lack of confidence. This keeps price action above 3100 with a run up to 3200 looking tenuous now:
