The gains in US equities yesterday carried into Asia Pacific trading today, but the European investors did not get the memo. The Dow Jones is succumbing to selling pressure and giving back yesterday’s gain. Energy and financials are the biggest drags, while real estate and information technology sectors are firm. All the markets had rallied in the Asia Pacific region, with the and leading with around 1.3% gains. US shares are trading lower. Bond markets remain quiet, and yields are little changed. The US 10-year is near 63 bp. The US is stronger against all the major currencies, with the dollar bloc and Scandis down the most, while the and Swiss are resilient. Emerging market currencies are mostly lower, though both the and Indian are firmer. is straddling the $1770 area and is sticking close to the recent highs. August posted an outside up day yesterday but continues to be stymied near $40.
China’s PMI was stronger than expected, but many…