Risk assets were mixed with commodities mostly higher, equities lower and credit flat. US equities eked out a gain of 0.1% but falls were seen in Japan (-9.6%), Europe (-6.5%), Australia (-2.7%) and China (-0.5%). US natural gas soared 27.5%, with iron ore (11.0%), gold (8.8%) and copper (5.3%) also strong whilst US oil (-1.5%) fell.