Yeap, the heading says it all. We had a brutal price action overnight with risk assets hammered while safe haven assets were bid. There was no clear catalyst for the sell-off, however market uncertainty has remained high. Question marks still remain over China’s ability to control its currency, even though the fall in FX reserves released over the weekend was smaller than expected. Central banks’ ability to stem the rot has also been questioned, the BoJ move into negative territory has not had a lasting effect and this lack of belief was little help by the Bank’s release of “summary of opinions” from its last policy ... (full story)