| The price moves are not for the most part very big, but it is beginning to look as if the markets are rolling over. The dollar, yen and Swiss francs are all relatively strong. Equity markets are under pressure. The MSCI Asia Pacific Index and the Emerging Equity Index are off 1.3%-1.5%. Europe bourses are also in the red, with the Dow Jones Stoxx 600 off almost 1%. Core bond yields are lower and the periphery higher.
There is much focus at the moment on the decline of copper, iron ore and crude oil prices. Copper prices continue to plunge. The 5% limit was hit in Shanghai. The four-session (though today) swoon, copper prices have fallen nearly 10%. The break of the $300 level is important as that represents the shelf that extends back to 2011...............................................Full Article: Source
|