Macro Morning

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By Chris Becker 

Volatility is spiking again with Wall Street selling off sharply on Friday night and casting a dour start to trading here in Asia this week as Chinese traders return to their desks. Stocks fell nearly 2% while the usual safe havens were bid higher, namely Yen, gold and Treasuries as the USD dropped against Euro and Pound Sterling.

Looking at Asian share markets performance on Friday where mainland Chinese stocks remain closed, where the Hang Seng Index was unable to stave off another selloff, falling 0.5% to 26312 points, just keeping prices somewhere near the December level. Futures are indicating a big break below the 26000 point level as this rout gathers pace:

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