By Chris Becker
US stocks returned to their January highs last night on the back of stellar results from Warren Buffett’s Berkshire Hathaway behemoth. The USD lifted against the majors, particularly Pound Sterling while US Treasuries were bid higher, sending the 10 year yield back to 2.92% as the latest set of auctions went without a hitch. A lack of economic catalysts – save for the Canadian virtue signalling – meant a relatively quiet start to the week, as is usual post NFP.
Recapping Asia’s session yesterday where the Shanghai Composite remains in near freefall, down over 1% to close at 2705 points, barely holding on as the bear market deepens. Momentum is really against Chinese shares here with lower commodity prices and tariffs weighing down possibly to terminal support at 2600 points (the lowest orange horizontal line):
