By Chris Becker
A better return to form for risk markets overnight with European stocks rallying while US markets edged out with some meagre returns as the latest FOMC Minutes were absorbed. Treasuries were largely unchanged as bond markets continue to realise that the Fed is done with interest rate rises for awhile, with “lower growth expectations” the key takeaway from the minutes.
Looking first at the action on the Asian session yesterday, the Hong Kong Hang Seng Index bounced back with a solid move higher, closing up 0.9% to 28470 points. This is a clear new daily high after clustering for awhile around the 28500 resistance level, so all the stops should be out for a continuation rally:
Advertisement