HedgeFundLIVE.com – Morning Notes
– Mixed action in global markets
– Shanghai and Nikkei both closed in the green while Hang Seng closed down 30bps
– Nikkei closed up 10bps, but that was after selling off about 70bps
– Tokyo Electric Power sold off 10% as Moody’s analysts downgraded the stock to one notch above junk status)
– European bourses are trading lower and US markets are weak in the premarket as well, with the S&P futures trading down 3.75 handles from FV ahead of the open
– UK CPI came in higher than expectations- no real reaction to this number, however
– German ZEW sentiment survey was uninspiring (Current Situation component came in better than expectations while the Economic Sentiment came in worse than expected- hence, a mixed outlook) and did not trigger any market reaction either
– Commodities market is relatively quiet this morning
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