Y - When The (Equity) Walls Come Tumbling Down
By Stephen Innes
What started as an innocent equities correction in Asia spilled over into the NY session as classic risk-off unfolded as US yields dipped with oil and gold prices rocketed higher. Risk sentiment is on the back foot this morning, with global equities and commodities weaker. The catalysts are nothing new and are a toxic geopolitical cocktail of nagging concerns: (i) Chinese growth levels (despite their recent stimulus), (ii) lack of progress on Brexit (despite reports that a deal is near), (iii) the Italian budget issues and (iv) the Khashoggi investigation. But significant