Woke up this morning and with US markets closed for MLK day decided to check global equity markets…unbelievable. Look at this: Sovereign Bonds rallying 1/2 point or more on average. UK’s FTSE -7.3%; French CAC40 -6.8%; German DAX -7.2%; Nikkei -3.9%; Hang Seng -5.5% (Shanghai -5.1%; Shenzhen -4.6%); Korean KOSPI -3%….India’ SENSEX -8%!
This does not bode well for tomrrow’s US opening!
Copyright 1/21/08 TBD Capital LLC
