- Markets tumbled overnight and for once China has not been blamed, as their markets are closed to celebrate Chinese New Year.
- European equities broke to new lows, as global growth concerns and the deteriorating health of the financial sector saw the typical flight to safety.
- Athens stock exchange now sits at its lowest since 1991 as investors pricing in a delay to their bailout performance review.
- Safe haven flows saw JPY and CHF crosses dominate the currency markets whilst Gold moved within striking distance to $1198 overnight.
- WTI returned to a 4-day low to add to investors concerns for growth.
Nylon Handover: Risk-off dominates the table
What made the overnight session more novel was the lack of mention of China during turbulent markets.