Whilst the US market saw a moderate net daily decline, there remains notable hyper-strength in many world markets. China is now higher by 10.0% this month, whilst even Spain - ugliest and most problematic of the EU PIIGS, is +3.0%. Incredible strength... worldwide.
China, monthly, 20yr
Spain, monthly, 20yr
I am tired... suffice to say... anyone who is getting even moderately bearish should stare at the above charts for a good hour. It would seem the next stop for China is 5K... with the IBEX set to break key multi-year resistance at the 12K threshold.
Tuesday will see PPI, retail sales, bus' invents.
*there is also fed official K' speaking.. after the close.
Goodnight from London