 The financial markets are back in full risk on mode today. China Shanghai SSE jumped 1.8% to 2994.01, just missed 3000 handle. Optimism of bottoming in the slowdown is a factor as Caixin PMI manufacturing rebounded to 49.9, just missed 50. More importantly, MSCI said that it will quadruple the weighting of China-listed shares in its benchmark indexes. Billions of dollars are expected to flow into the market this year. Additionally, German retail sales jumped more than expected while subdued Eurozone inflation could keep ECB on hold for longer. Yen is trading as the weakest one for today naturally. Additionally, the Japanese currency is pressured by surging global treasury yield. German 10 year yield is now at 0.203 comparing to 0.096 a week ago. US 10-year yield broke 2.7 handle yesterday and is set to extend the rally. Mixed US personal income and spending data is not derailing the upward trajectory. At the time of writing, Kiwi and Aussie are the strongest one. Canadian is the second weakest as oil price retreat and Canadian GDP contracted unexpectedly. In European markets, FTSE is up 0.49%. DAX is up 1.17%. CAC is up 0.56%. German 10-year yield is up 0.173 at 0.203. Earlier in Asia, Nikkei rose 1.02%. Hong Kong HSI rose 0.63%. China Shanghai SSE rose 1.80% to 2994.01, just missed 3000. Singapore Strait Times rose 0.24%. Japan 10-year JGB yield rose 0.0164 to -0.009, still negative. | 
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