2013 ended with 11 consecutive days of increases in the MSCI Asia Pacific regional index and with an all-time high in the S&P 500, which had risen by 30% for the year. In January these stellar performances are undergoing a correction, and last night's fall on Wall Street promptly had repercussions in Asia where the area index is falling by 1,4%.
Dennis Lockhart, a non-voting member of the FOMC, said that the US economy is on solid foundations, and can support the reduction of monetary stimulus. Enough to put Wall Street in a bad mood, addicted as it is to Fed medicine.
In the currency field, the euro and yen changed little (at 1,366 and 103.34 respectively against the dollar); the Chinese yuan continues, slow but inexorable, to grind appreciation records, and this morning it reached 6,04 against the US$.
Gold holds $1250/ounce and oil is weak at $91,8/b WTI (106,7 Brent).
