By Chris Becker
Friday night saw volatility violently veer the other way with big surges on stocks and selloffs in safe havens like gold, Treasuries and Yen. Oh and Bitcoin which crashed down to $4000 before rebounding 50% (not a typo) to almost $6000! Stimulus was the reason as central banks decided to let the printing presses unleashed, with both the Fed and the Bank of Canada slashing rates while this morning the RBNZ stepped in as well to cut by 75bps. The RBA as usual, does SFA.
It should be a turbulent start to the week here in Asia as it plays catchup to the weekend developments.