i Think The Decoupling Argument May Have Been Overstated

Asian markets being routed last night rebound strongly tonight after Fed rate cut.
Bloomberg has it here:

Jan. 23 (Bloomberg) -- Asian stocks rebounded after the U.S. Federal Reserve's surprise interest-rate cut boosted banks and higher metals prices lifted miners.

Commonwealth Bank of Australia jumped the most in a decade and BHP Billiton Ltd., the world's largest mining company, soared the most in 20 years. Toyota Motor Corp. and LG.Philips LCD Co. led gains among companies that rely on U.S. sales. Asia's benchmark yesterday completed its worst two-day drop in almost 18 years on concern the global economy is slowing.