Europe. The stoxx 600 utility sector is up by 1. 48 , outperforming significantly. 20. Ling pe, trailing pe on the auto sector. Cyclical sectors very undervalued at the moment. Utilities are getting a huge valuation attached to them. Lets move over and talk about this light volume session we are getting in the United States. Vol is trading lower, so the vix is down again. Continue to watch what is happening. Up. Tility continues to be earlier on, we saw a bit of a spike in the euro versus the dollar. And has subsequently faded, it is now trading down on the session. The bloomberg dollar index is pretty much flat on the session. Central banking a big part of all this. You had a lot of news over the last couple of days on this story from both sides of the atlantic relating to the ecb and the fed. Christine lagarde is set to become the first woman to run euro area Monetary Policy. Directoranaging nominated to replace mario draghi as head of the European Central bank. She will be taking ov