HedgeFundLIVE.com – Morning Notes
– Global markets are all weak this morning as are commodities
– Markets in Asia may be in catch up mode after yesterday’s weak performance in the U.S.
– Nikkei closed down 1.5%- note that Toyota had reported after Nikkei closed yesterday and their weak earnings may be reflected in today’s action
– Shanghai closed down 1.3%
– Hang Seng closed down 90bps
– After Asian markets were closed, PBOC hiked bank reserve requirements by 50bps (effective May 18)
– In Europe, UK Industrial Production came in weaker than expected
– Eurozone Industrial Production came in weaker than expected as well
– Weak Industrial Production numbers echo China’s weak production data yesterday
– Commodities very weak across the board, although they have bounced a little off their overnight lows
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