Especially in the very begining of a year, due to the natures of buy side stratagy and doing long easily, there are still some optimal sentiment showed up in some market, especiall in equity and commodity. Maybe it is mainly from the followes of christmas sentiment.
Risky assets got sold off overnight, no special bearish news, yield dropped further on US treasury, momentum on commodities stopped. Equity stayed a bit good sentiment.
Which market is wrong, which is forerunner? Unless risk appetite deteriorates to the level which is that all the player no longer invest cash into risky assets, especially in equity and commodities.
We got plenty of EU debts need to roll over, and volker rule waits ahead.
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