What an interesting day we had to start the week. A strong rally last evening, followed by a selloff during the London holiday. After that a rally following the Comex open, only to be followed a sharp reversal and the lows of the day after a stronger-than-expected ISM manufacturing PMI.
But we weren't done yet and though rates and the POSX remained near their highs of the day, the Comex digital metals began to bounce back. By the close, both CDG and CDS were well off their lows and then look at what happened in the final hour of Globex trading this afternoon!...
