Archived IMT (2009.07.13)

Another case of aggressive sell-off in Asia despite flat US sessions, which further highlights the dubious late session gains in US markets. Yen shrugs the dissolution of Japans lower House of Representatives and call for general elections on Aug. 30. Japan is no stranger to political disappointments and neither is the Japanese currency. US earnings season as well as US industrial production and retail sales will test the fragile consolidation of US equity indices. We have yet to see a convincing close below 877 in the S&P & 8,940 in the Dow. Watch Ashraf guest hosting CNBC's World Wide Exchange at 9 am GMT (10 am BST)