By Tyler Durden
Once again weakness in the US carried through to Asia with stocks unable to hold any National-Team-inspired gains, but it was the contagion to commodities that was most notable (as a hike in exchange fees snuffed out a lot of speculative fervor)
European equities have followed suit from their Asia-Pac counterparts to trade higher across the board
Markets await Brexit headlines amid Barnier deadline
Looking ahead, highlights include US weekly jobs and potential comments from ECB’s Draghi.
Asia equity markets somewhat shrugged off the subdued tone on Wall St and mostly rebounded from the prior day’s losses, aside from China which underperformed amid continued regulatory concerns. ASX 200 (+0.5%) and Nikkei 225 (+1.5%) were lifted from the open, in which the Japanese benchmark led the gains amid short-covering from yesterday’s 2% slump and as it coat-tailed on the bounce in USD/JPY. Conversely, Hang Seng traded (+0.7%) indecisive while Shanghai Comp. (-0.3%) lagged after the CBRC drafted new requirements for banks to curb liquidity risks, and although the PBoC conducted Reverse Repos for the 1st time in 5 working days, this still amounted to a net neutral daily position after expiring operations were accounted for. Finally, 10yr JGBs were uneventful as focus was centred on …read more