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Bye Bye Greece! Hello China!

20 July 2015 by lberuti

It looks as if the focus eventually turned away from Greece. It would probably not take much for it to grab the market’s attention again, but today the focus was on what could be a much bigger problem if it unravels: the slowing of the Chinese economy. The first signs are to be found in the commodities area, which are trading near or at the lows of the year. Last week higher beta energy names underperformed particularly in the US, and this trend continued throughout the session. From the word “go”, protection was bid across the Energy and Basic Material sectors, and they provided the laggards in an otherwise fairly quiet session.