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Risk Appetites Satiated for the Moment
The rally in risk assets in North America yesterday is failing to carry over into today's activity. Asia Pacific equities were mixed. Korea and Indonesia led the advances with more than 1% gain. China and Taiwan also gained. Japan and Hong Kong. Europe's Dow Jone's Stoxx 600 is giving back yesterday's gains (~1.3%) plus some and US stocks are heavy. The early call is for the S&P 500 to open around 1% lower, which would unwind most of the gains seen in the past two sessions. The NASDAQ rallied to new record highs yesterday and has only fallen in three sessions since May 21, including an eight-day streak that may be ... (full story)