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STOCKS: Continued/intensified Sino-U.S. sabre rattling, coupled with a soft
session for crude, an apparent lack of value seen by Warren Buffett and tensions
surrounding the Korean DMZ weighed on risk in early trade this week, although
USD/CNH's failure to consolidate above CNH7.1500 seemingly allowed the majority
of the key risk yardsticks to recover from extremes.
- Australia's ASX 200 even managed to recover its early losses (which totalled
~1.5% at one point), with some details/technicals to be aware of in an earlier
- Elsewhere, the Hang Seng played catch up after the elongated weekend, while
liquidity was thinned by the ongoing Japanese & Chinese holidays.
- E-minis recovered from worst levels, but the risk switch is still flicked to
off as we grind towards European hours.
- Hang Seng -3.8%, ASX 200+1.0%.
- S&P 500 futures -18, DJIA futures -157, NASDAQ 100 futures -58.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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