By Chris Becker
Friday night saw US stocks tread water despite a better than expected retail sales print with US Treasury yields instead spiking higher, dragged along by German bunds despite the ECB’s Thursday announcement of easing and more QE. In currency land, Pound Sterling continued its rise while Euro made it a new monthly high, reinforcing the perverse outcome of the ECB’s interest rate agenda.
We’re all expecting a big jump in oil prices and possibly safe havens this morning as the Yemeni revenge attack on the Saudi’s processing plant over the weekend will have a big impact.