The market swiftly transitioned from ‘risk on’ vibes dominating proceedings for most of Monday to an abrupt change of heart, leading to the erosion of gains in the commodity-linked currencies and US equity indices in favor of the Japanese Yen and the US Dollar. It all started to snowball when California announced that they would be re-closing bars, restaurants, and other activities, including church attendance. To make matters worse, the Los Angeles Unified School District said the scholar year would begin online. But the big winner for the day was indisputably the Euro, miles away from a revived US Dollar, the ... (full story)