Rumours of a major US energy company preparing for bankruptcy are a telling insight into the current market psychology. USD/JPY and the Nasdaq hit their lowest since late 2014 as risk aversion took hold. Australian business confidence highlights quiet Asia-Pacific trading. China on holiday and a quiet economic calendar might have given markets a chance to stabilize Monday but the opposite was the case. The weak finish on Friday spilled over and sentiment was soft at the start of US trading. It crumbled shortly after a report surfaced that natural gas giant Chesapeake Energy had hired a restructuring law firm. Shares ... (full story)