The Day After – Markets Recover from Yesterday’s Aggressive Risk Sell-off 24/5/2013
Liquidation of risky asset became a complete purge by yesterday mid European session with no stock markets unscathed. If there was any doubt that the downside would be limited to Asia, -2.93% fall in the SMI eased those thoughts. The culprit was the Fed minutes which were slightly more optimistic than anticipated and combined with the revised payroll data suggested that potential “tapering “ was closer than had been anticipated.
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