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Redemption Monday
Overview: The holiday-shortened week is off to a slow, tentative start. The surge of the S&P 500 before the weekend failed to inspire today. Asia markets were mostly firmer, led by Japan, while China, Hong Kong, and Singapore moved lower. The Nikkei gapped higher, jumping above the 22k level that had been holding it back. It is at its best level since early last December. The US coattails are even shorter in Europe, where the Dow Jones Stoxx 600 is little changed, with a three-day rally in tow. US shares are a little heavier. US Treasuries are consolidating the pre-weekend drop, which weighed on Asia-Pacific ... (full story)