By Chris Becker
Fears are fettered with fiscal fiddling overnight with the rebound in Asia extending into the US session, although European bourses remain extremely nervous and put in scratch sessions. The USD bounced back as well with safe haven selling the order of the day, given some respite to risk assets with bond yields slowly rising as well. Oil soared with Brent and WTI lifting more than 10% although industrial metals remain under pressure.
Looking at Asian share markets from yesterday where the Shanghai Composite closed nearly 2% higher at just below the 3000 point barrier while the Hang Seng Index was up about the same before a late selloff saw it only lift around 1.4% to 25392 points. This takes it above the previous price action with a nice bounce on the daily chart – but still nowhere near the weekly support at the 26000 point level – early days yet:
