By Chris Becker
Risk markets are swinging from caution to optimism and back again with US/China trade tensions running high and pulling back any nascent bounce on stocks overnight. The latest Fed minutes had a minor impact on bond yields which fell slightly, while currencies remained relatively calm as the Australian dollar stayed under 69 cents again.
Yesterday saw Asian stock markets vacillate between advances and scratch sessions again with the Shanghai Composite reading water slightly above 2900 points before selling off going into the close to finish 0.5% lower at 2891 points. The Hang Seng Index is doing a bit better, up 0.2% to 27705 points finally not making another new daily low and getting a little bit of confidence back and while the daily chart is showing a deceleration here into the mid 27000 point level, momentum remains firmly with the bears:
