Overnight

Here we go again, risk is on and safe harbor is out overnight in Asia in what some are calling an amazing snapback from the shock of Trump's election with the Nikkei regained a that it gave up just a day ago and more to trade 6% higher as the dollar firmed and the yen weakened.

The broadest index of Asia-Pacific shares rallied 1.7% after falling 2.4% the session earlier. In the morning after, the Dow posted nearly a 257 point gain as investors apparently look forward to the possibility of more fiscal stimulation t lift the economy from its economic doldrums. More stimulation could equal more inflation something many long to see return along with higher growth. The 256 point upswing in the Dow was the second largest gain this week. Meanwhile, the yield on the 10-year Treasury noted jumped21 basis points from 1.716 to 2.07%.

 Gold, according to Reuters, one of the initial winners of the U.S. election uncertainty, traded up 0.52 percent at $1,284.40 an ounce. On Wednesday, gold prices had surged nearly 5 percent to $1,337.40.
During Asian trade, U.S. crude futures slipped 0.07 percent to $45.24 a barrel, after settling at $45.27 in the U.S. Wednesday session, as Brent futures fell 0.13 percent to $46.30.

The Nikkei was up 5.71% to 17,178.87; the Hang Send rallied 2.01%; the ASK 200 gained 2.73%; the Kospi added 1.94% and the Shanghai composite 1.10%. Crude oil recaptured most of its earlier losses of 4%. Much of the rally in stocks came from the financial and drug sectors as investors warmed to the idea that these would not suffer the fate many believed was in store for them with a Hillary presidency. Drug stocks were the worst performing sector in the S&P 500 to date. In currencies the dollar hopped around impressively going from 101.19 yen to 105.96 overnight helped in part by the prospect of higher interest rates come next month.The euro also bounced around going from $1.1300 on the initial news about Trump winning to settle back to $1.0906 level.